Kim Soo-hyun Faces Financial Strain Amidst Legal Battle and Contract Penalties

Actor Kim Soo-hyun is embroiled in a legal battle involving a lawsuit for damages against the late Kim Sae-ron's family and Kim Se-eui, the head of Garosero Research Institute. Allegations have surfaced that Kim has yet to pay the necessary legal fees for the lawsuit.

According to a report on the 17th, the Seoul Central District Court's Civil Division 14 (Presiding Judge Jeong Ha-jeong) issued an order on the 2nd for Kim Soo-hyun to supplement the court fees and delivery charges. This procedure is necessary to address any deficiencies in the legal process or documentation, requiring additional payment if the initial fees are insufficient.

Court fees are proportional to the claim amount, and delivery charges cover the cost of officially delivering necessary documents during the legal process. Kim Soo-hyun's lawsuit is valued at approximately 12 billion KRW (around $10 million USD), with estimated court fees and delivery charges reaching about 38 million KRW (around $32,000 USD).

There are concerns about Kim Soo-hyun's financial situation. An M&A expert familiar with the internal affairs of Gold Medalist, Kim's agency, reported that the company's surplus funds are nearly depleted. The agency has even temporarily halted contracts with external cleaning services, indicating severe financial distress.

All 20 of Kim Soo-hyun's advertising contracts have been suspended, with penalties estimated at 22 billion KRW (around $18 million USD). The most concerning issue is his upcoming project with Disney. If the Disney+ original series 'Knock Off,' starring Kim, fails to release, additional penalties worth hundreds of billions of KRW could be incurred. The release of 'Knock Off' is currently indefinitely postponed.

Industry insiders speculate that if penalties arise, the agency might initially cover the costs, later seeking reimbursement from the actor, similar to the case with the late Kim Sae-ron. However, given that Gold Medalist is essentially a one-man operation centered around Kim Soo-hyun, it is unlikely they can handle such substantial penalties all at once.

Lee So-jung, TenAsia Reporter forusojung@tenasia.co.kr