Kim Soo Hyun’s Agency Reportedly Facing Financial Collapse

Many believe his emotional press conference was an effort to stop his company from collapsing.

This article is part of our coverage of Kim Soo Hyun And Kim Sae Ron’s Relationship. You can read more and view the entire timeline here.

Gold Medalist, infamously known as Kim Soo Hyun‘s agency, is reportedly struggling with severe financial difficulties as sources suggest the company is running out of funds. The troubles follow the public controversy Kim Soo Hyun has been wrapped up in after actress Kim Sae Ron‘s passing.

The actor is facing allegations of dating Kim Sae Ron when she was still a minor, and his agency has been accused of attempting to extort money out of her after Kim Sae Ron’s DUI accident. Most recently, he held a controversial press conference during which he denied all of it.

Full Translation: Everything Kim Soo Hyun Said In His Controversial Press Conference

While netizens had expected Kim Soo Hyun’s agency to be in a somewhat rough spot, it seems to be much worse as reports claim that the agency has even suspended contracts with external cleaning services to cut costs.

According to an industry expert familiar with Gold Medalist’s finances, the company once maintained a healthy reserve of roughly ₩2.00 billion KRW (about $1.36 million USD) to ₩3.00 billion KRW (about $2.04 million USD) in its accounts. However, the situation has taken a drastic turn following the recent controversy. The actor has lost over 20 endorsement deals and many brands have pulled his advertisements.

Brands That Have Distanced Themselves From Kim Soo Hyun Since His Controversy Began

Although most companies have not imposed penalties, the financial strain caused by refunded fees, canceled events, and ongoing operational costs has significantly depleted the agency’s resources. Amid these challenges, there are rumors that Gold Medalist is actively seeking external investment to stabilize its finances.

It seems the company’s funds have run dry.

— Expert familiar with Gold Medalist

A financial industry insider stated that prior to Kim Soo Hyun’s press conference on March 31, the agency needed to secure approximately ₩6.00 billion KRW (about $4.07 million USD) in damages. The decision to halt contracts with cleaning service providers has raised concerns that further cost-cutting measures, including potential layoffs, could be imminent.

Before the press conference, I heard they needed to come up with about 6 billion KRW in damages. Recently, they even halted their contract with an external cleaning service. If that’s true, layoffs among employees might not be far off.

— Financial industry insider

Many believe Kim Soo Hyun’s emotional press conference was not only aimed at addressing claims made by Kim Sae Ron’s family and GaroSero Institute but also an effort to protect his agency from collapsing. Something the actor himself said during his tearful statement even alluded to it.

I wondered how things might have been if I held a press conference at the beginning of it all to clarify everything. Then, I would not have caused so much suffering to the fans who love and support me and the staff at my management company who worked so hard leading up to this conference.

— Kim Soo Hyun during his press conference

Even the ₩12.0 billion KRW (about $8.15 million USD) damages lawsuit Kim Soo Hyun recently filed against Kim Sae Ron’s family and GaroSero Research Institute has raised eyebrows. Moving forward, a critical legal question will be whether Gold Medalist and Kim Soo Hyun can prove that their financial troubles were directly caused by these parties.