Kim Soo-hyun’s Agency Reportedly in Crisis, Cleaning Services Halted, Press Conference a Last-Ditch Effort?
Actor Kim Soo-hyun’s emotional press conference on March 31 may have been more than just a response to recent allegations, it may have been a last-ditch effort to rescue his agency, Gold Medalist, from financial collapse.
Financial Fallout Hits Gold Medalist Hard
Industry insiders believe that the timing and tone of the press event were carefully calculated. While the actor firmly denied accusations involving the late Kim Sae-ron and controversial YouTube channel Garo Sero Research Institute, his visible distress may have stemmed from deeper issues, namely, his agency’s worsening financial condition.
“Gold Medalist used to maintain a surplus of 2 to 3 billion KRW (approx. 1.36M USD to 2.04M USD),” an M&A expert revealed. “But that’s no longer the case. More than 20 of Kim Soo-hyun’s endorsements have been pulled. While most advertisers aren’t pursuing legal penalties, partial refunds, canceled appearances, and mounting fixed costs have drained the agency’s reserves.”
The situation reportedly deteriorated so much that Gold Medalist even halted its contract with an outsourced cleaning company in an effort to cut operational costs. Although the agency has not made an official statement, a financial industry insider confirmed, “I heard the company was scrambling to raise about 6 billion KRW (approx. 4.08M USD) before the press conference. If the cleaning service suspension is true, we could soon see internal layoffs and restructuring.”
Companies that had contracted Kim Soo-hyun as model are rapidly terminating agreements. Of the 16 brands he currently represents – including Prada, Eider, K2 Korea, Shabu All Day, Tous Les Jours and Homeplus – most have either terminated or decided not to renew contracts.
The ongoing controversy has significantly impacted Kim Soo-hyun’s professional engagements.
- Most notably, his scenes have been edited out of the variety show “Good Day” where he was a regular cast member.
- His much-anticipated Disney+ original series “Knock Off”, which was in pre-release promotion, has indefinitely postponed its scheduled premiere.
- Additionally, a highly anticipated fan meeting in Taiwan scheduled for November 30 was abruptly canceled, disappointing international fans who had made travel arrangements.
These disruptions collectively represent a major setback in the actor’s previously thriving career trajectory.
Is The Emergency Press Conference A Strategic Attempt?
Many observers now believe the press conference was not only meant to counter public backlash, but also a strategic attempt to stabilize investor confidence and prevent the company’s total collapse.
During the press event, Kim Soo-hyun broke down multiple times and shared, “I cannot admit to something I didn’t do. I can no longer stand by while my family and company staff suffer because of me.”
In a bold follow-up move, Kim Soo-hyun filed a 12 billion KRW (approx. 12.24M USD) damages lawsuit against Kim Sae-ron’s family, an unnamed woman claiming to be her aunt, and the Garo Sero Research Institute. Legal experts believe this aggressive step signals a lack of viable alternatives for the actor and his agency.
The upcoming legal battle will hinge on whether Kim Soo-hyun and Gold Medalist can prove a direct link between the defendants’ actions and the company’s financial losses, a task that could determine not only the outcome of the case but the very survival of the agency itself.