3:08 am - 11/28/2012

Park Hyo-shin files for bankruptcy

After a court found him guilty of violating an exclusive contract with his former agency, singer Park Hyo-shin has filed for bankruptcy.

Park notified the court of his situation, in which he is unable to pay the penalty ordered by the court in July.

Park owes about 1.5 billion won ($1.3 million) to his former agency, and court fees add another 1.5 billion won.

The Nov. 2 request filed by Park asks the court to reduce the amount owed and allow repayment in installments. His current agency said that the court will announce its verdict tomorrow.

The past few months have been interesting for the 30-year-old K-pop star. In July, the court finally ruled that Park was guilty of violating his contract with his former agency.

Park had insisted he moved to another agency because "the agency wasn't representing me and, therefore, I don't own them anything."

In September, he was released from his mandatory military service after serving in the Army's PR branch.

By Carla Sunwoo

source: JoongAng Daily
hellicoptajuuce 28th-Nov-2012 03:15 am (UTC)
his mandatory military service after serving in the Army's PR branch

it must make people made to know that celebrities don't actually go onto the field and go into military officework
johnnyquest89 28th-Nov-2012 03:08 pm (UTC)
some yes
(no subject) - Anonymous
muzegrey 28th-Nov-2012 06:25 am (UTC)
(no subject) - Anonymous
muzegrey 29th-Nov-2012 09:33 pm (UTC)
Like the most completely famous ballad singer in Korea?
dipropylene 28th-Nov-2012 12:25 pm (UTC)
Side-eyeing you so hard.
aleexnews 28th-Nov-2012 04:20 am (UTC)
omg oppa ;___; i hope the court lowers the amount bc this is terrible. i want new music from him sooooo bad but after reading this ik its not gonna happen and i just hope he can get out of this mess first.
johnnyquest89 28th-Nov-2012 03:09 pm (UTC)
new music will come... he has to pay of his debts some how
ribbon2sky 28th-Nov-2012 04:23 am (UTC)
well that stinks
muzegrey 28th-Nov-2012 06:27 am (UTC)
That sucks. Hopefully he is able to find a better agency.
Personal bankruptcy isn't a death sentence. I'm sure he will be able to come back.
dio_elaclaire 28th-Nov-2012 08:45 am (UTC)
poor oppa :(
mjspice 28th-Nov-2012 11:15 am (UTC)
Damn...that's sad...
kanbinayume 28th-Nov-2012 10:02 pm (UTC)
so mad at this lawsuit rn. I hope he gets the fines lowered and is able to pay on his own time
itskimbitches 29th-Nov-2012 03:45 am (UTC)
lolz. is he the one that got famous from the mika N. remake?
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