Singer Park Hyo Shin is being accused of contractual fraud. According to media reports on the 28th, Park Hyo Shin reportedly defrauded a businessman "A" by promising to sign a contract with his entertainment agency.
According to "A", Park Hyo Shin's exclusive contract with his previous agency JellyFish Entertainment was nearing expiration in November 2014 and the singer agreed to sign a contract with A's agency. Using the contract as bait, he reportedly received from A, a $233k Bentley for himself, a $51k Mercedes Benz for his mother, a $12k luxury watch, and an estimated $50k in cash at least 4 times for an estimated total of $200k. Overall, he received a total of 400 million KRW (~$345k) in gifts from A's agency.
Park Hyo Shin took the money while expressing several times that he would sign with the agency. However, after his contract with JellyFish expired in 2016, he kept putting off the contract signing and eventually signed with his current label, Glove Entertainment. According to A, he questioned Park Hyo Shin about it at the time and he [Hyo Shin] replied "There is nothing that can be done" and then cut off all contact with A. As a result, A filed a criminal complaint on June 27th with the Seoul District Prosecutors Office against Park Hyo Shin on charges of fraud.
Park Hyo Shin's current agency Glove Entertainment released an official statement on the 28th to address the allegations and said, "The news being reported today is different from the truth. Park Hyo Shin has never gained any financial gifts from another party on the condition of an exclusive contract. Hyo Shin is currently focusing on his scheduled concerts and we plan to take strong legal action against these groundless and defaming rumors against our artist."
Park Hyo Shin is scheduled to hold his solo concert "Lovers" over a span of 6 days beginning June 29th at the KSPO Dome in Seoul.
source: @dailynaver, dailynaver, naver