Gold Medalist has firmly denied allegations surrounding its financial settlement practices and investor structure, stating that all operations comply with legal and accounting standards.

Company Defends Accounting Practices

On September 19, the agency released an official statement addressing recent media reports. "As an unlisted company, we follow standard corporate accounting principles. Actors' allocated earnings are included in the cost of sales, so there is no accounting issue," the company explained.

Questions had also been raised about the legitimacy of its investment association. Gold Medalist responded, "The association is legally registered at its official address. By nature, investment associations do not operate from physical offices, and that remains the case here."

The agency emphasized that it has consistently undergone legal reviews with its contracted law firms. "There are no illegal practices in our management or operations," it stated.

Media Report Sparks Controversy

Earlier the same day, a media outlet reported that Gold Medalist had only paid about 670 million won in total settlements to its artists between 2020 and 2024. The report contrasted this with the success of star actor Kim Soo-hyun, who generated roughly 20 billion won in revenue through the hit tvN drama Queen of Tears in 2024, but reportedly received only 270 million won in settlement fees.

The report also raised doubts about Barun No.2 Investment Association, Gold Medalist's largest investor, noting that its business registration address did not appear to host an actual office, fueling speculation about its substance.

Background on Gold Medalist

Founded in 2019 by actor Kim Soo-hyun and his stepbrother, director Lee Ro-bae, Gold Medalist is a management agency specializing in actors. Its roster includes Kim Soo-hyun, Seol In-ah, Kim Soo-gyeom, Choi Hyun-wook, and Kim Seung-ho.

Despite mounting scrutiny, the company reaffirmed that its settlement process and investment structure are both legitimate and transparent.