Korean singer Park Hyo Shin is facing new legal troubles as he has been sued by the former CEO and shareholders of his previous agency, Globe Entertainment.
According to reports from SPOTV News, the lawsuit was filed earlier this month at the Yongsan Police Station in Seoul. Park is accused of fraud and obstruction of business under the “Act on the Aggravated Punishment of Specific Economic Crimes.”
The conflict between Park and his former agency dates back to 2022, when he claimed he had not received his contract fees and music royalties. Globe had previously issued new shares through paid capital increases in 2016 and 2018, which were distributed to Park, the former CEO, and other shareholders.
The plaintiffs argue that Park deceived one of his close associates into believing that there was a trust agreement over their shares, even though no such agreement existed. As a result, the ownership of the shares appeared to be in Park’s favor. They also claim that Park used these voting rights to install three of his associates on the company’s board and later exercised those rights again to remove the former CEO.
Park’s side responded by confirming that a civil lawsuit over the shares had been filed, but stated they were unaware of any criminal charges related to fraud.
This is not the first time Park Hyo Shin has faced legal issues with his agencies. In 2006, he was sued by Nissi Entertainment Group for alleged contract violations, resulting in him repaying his signing bonus. In 2008, he was ordered to pay damages to Interstage after a dispute over breach of contract and misconduct accusations. He was later fined in 2015 for attempting to evade court-ordered asset seizures.
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Including the current case, Park has now been involved in five lawsuits over the past nine years.