Gold Medalist Faces Unprecedented Crisis Amidst Kim Soo-hyun Controversy Despite Record-Breaking Year in Sales

Actor Kim Soo-hyun’s agency, Gold Medalist, is experiencing its most turbulent chapter since launching in 2020. Despite raking in over 21.6 billion KRW in revenue in 2024, buoyed by the success of Queen of Tears, the company is now mired in a scandal threatening its survival.

Scandal Overshadows Record-Breaking Year

According to the 2024 audit report filed on April 20, Gold Medalist recorded a 61.7% increase in sales and 48.4% increase in operating profit compared to 2023, with net profit around 2.2 billion KRW. Despite rumors of financial trouble, the company still holds about 4.7 billion KRW in retained earnings. However, the agency’s survival is now questioned amid mounting legal and financial pressures.

Kim Soo-hyun’s side filed a 12 billion KRW (approx. 8.2 million USD) damages lawsuit on March 31 against Kim Sae-ron’s bereaved family and the YouTube channel “Garo Sero Research Institute” for defamation. The Seoul Central District Court ordered corrections to the lawsuit documents, which some media misreported as unpaid fees, fueling speculation about financial strain. The agency clarified that all fees were paid on time and the corrections were routine.

Financial difficulties are also linked to Kim Soo-hyun losing major endorsement deals with over 15 brands, including Homeplus, Eider, and Prada, which reportedly could result in breach-of-contract penalties exceeding 20 billion KRW. The Disney+ drama “Knock Off,” starring Kim Soo-hyun, has been indefinitely postponed due to the controversy, with potential penalties reaching up to 180 billion KRW or more.

Stock Manipulation Allegations Add Fuel to Fire

Gold Medalist also faces allegations of stock price manipulation related to an online education company listed on KOSDAQ, which it acquired in 2020. The Financial Supervisory Service has reported suspicious trading activity to the police, and the Korean Exchange is investigating abnormal transactions. The education company’s major shareholder is a private investment fund co-owned by Gold Medalist.

“If Kim Soo-hyun generated nearly all of the agency’s 20 billion KRW revenue, then his silence is not just a PR problem, it’s an existential one,” another source noted.

The agency initially built its reputation by signing actors like Seo Ye-ji and Kim Sae-ron and developing new talent such as Choi Hyun-wook and Lee Chae-min. However, scandals involving its artists and Kim Soo-hyun’s current inactivity have weakened its position. Industry insiders note that Kim Soo-hyun likely contributed as much as the agency’s entire 20 billion KRW revenue last year, and even if the agency is under financial pressure, his earnings could cover losses. Still, the ongoing legal battles and damaged reputation will take time to recover.