Hook Entertainment Responds To Reports Of CEO Using Lee Seung Gi’s 4.7 Billion Won Loan To Buy Luxury Apartment

Hook Entertainment has responded to reports related to Lee Seung Gi lending its CEO billions of won (millions of dollars) over the past eight years.

On November 26, Korean news outlet 10Asia reported that between 2014 and 2021, Lee Seung Gi had lent Hook Entertainment CEO Kwon Jin Young a total of 4.725 billion won (approximately $3.538 million) with zero interest.

Additionally, 10Asia reported that during that time period, Kwon Jin Young had purchased a 3.4 billion won (approximately $2.5 million) residence in the famous luxury apartment complex Hannam the Hill—and paid for it in cash. The timing of the

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COVID Relief: SBA Could Improve Communications and Fraud Risk Monitoring for Its Arts and Entertainment Venues Grant Program

What GAO Found

The Shuttered Venue Operators Grant program was created to financially assist businesses in the performing arts and entertainment industries hard hit by the COVID-19 pandemic. The Small Business Administration (SBA) approved 73 percent of the 17,328 applications it received for the program as of December 31, 2021. Smaller businesses (those with 50 or fewer employees) represented over 90 percent of award recipients. Of the six types of eligible businesses, movie theaters had the highest median award amount (see figure).

Shuttered Venue Operators Grant Recipients and Median Awards, by Eligible Business Type, as of December 31, 2021

Most

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