Korean Authorities Begin Investigation Into Allegations HOOK Entertainment CEO Kwon Had Misused Company Funds

The allegations were first levied by Dispatch.

Korea’s tax agency, the National Tax Service, announced it has begun auditing HOOK Entertainment CEO Kwon Jin Young.

Kwon Jin Young | Top Class

According to a Chosun Ilbo article published on December 1, the tax agency has begun auditing the CEO, who is alleged to have misused company funds to purchase personal expenses. The report states that pending the audit, the CEO may be investigated for evading taxes and other criminal charges.

The National Tax Service stated to Chosun Ilbo in a phone conversation that they had learned of the CEO’s alleged misuse of her company card through news outlets and that they had begun the auditing process.

We learned through news outlets that HOOK Entertainment’s Kwon CEO is alleged to have misused her company’s funds. We have begun an internal investigation into (the company’s) expense history and other financial records.

— National Tax Service

Previously, Dispatch first levied damning allegations against the CEO that she had misused company funds. The media outlet’s article questioned how the CEO was funding her luxurious lifestyle, alleging the CEO was a VVVVIP at the luxury brand, Luis Vuitton.

Dispatch was able to obtain financial records detailing Kwon Jin Young’s use of the company card. From January 2016 to July 2022, she spent around ₩2.80 billion KRW (about $2.11 million USD). She also earned ₩2.60 billion KRW (about $1.96 million USD) in salary during that time. Kwon Jin Young even registered her younger sibling as a fake employee and provided them with ₩400 million KRW (about $302,000 USD). She gave her mother a credit card with a credit limit of ₩5.00 million KRW (about $3,770 USD) per month — more than Lee Seung Gi’s team. She even gave a company card with a ₩10.0 million KRW (about $7,540 USD) per month limit to an employee of the Louis Vuitton shop she frequented.

— Dispatch

The audit follows a separate raid conducted by Police Agents on November 10 into the agency. At the time, it was alleged the raid was conducted as part of a larger investigation by authorities into actress Park Min Young‘s controversial ex-boyfriend Kang Jong Hyun, who is alleged to have ties with the label.

Actress Park Min Young’s Agency Hook Entertainment Is Raided By Authorities

Kwon Jin Young is also alleged to have withheld money from actor/singer Lee Seung Gi. According to Dispatch, Lee Seung Gi has never been paid for his music career. On December 1, it was reported that Lee Seung Gi had requested to terminate his contract with the agency.

Lee Seung Gi Requests To Terminate His Contract With HOOK Entertainment

Source: Chosun Ilbo