[News] Hangeng needs to pay 2 billion won as redemption fee, frequently attending activities to repay debt

Reported by Yangtse News 22 June

Recently, Korea SM Entertainment had stated that: Hangeng’s contract hasn’t yet terminated. Hangeng had accepted reporter’s interview, saying that the contract must be terminated. The attitudes of both sides are so stern that it only increases the tension of the case. People who understands the situation say that, if Hangeng ends his contract with SME, he will need to pay 2 billion won (about RMB 11million 5 hundred 80 thousand)* as a ‘redemption’ fee.

According to some sources, if Hangeng is to work under another company, he needs to pay 3 times the money that SME had used on his training, and 2 times of the relative money loss when he leaves. Hangeng had signed the contract with SME in 2001, and it’s been already nine years now, and only 5 more years till the contract expires. As Hangeng’s popularity had been soaring up high in China these few years, SME had arranged a lot of performance and schedules for him as well as Super Junior, and the fee used now will also be counted on Geng, that’s why Hangeng will need to compensate 2 billion won if he wishes to terminate the contract.

Although the law case with SME is still pending, Hangeng attends a lot of activities in China frequently, and he even sang the promotion song of Asian’s Games and Asian Game’s Voluteers. According to inner news, the price which Hangeng accepts the songs aren’t low, instead, it may even exceed 7 digits. The person also expresses that Hangeng knew he had to compensate a huge amount to SME, so the reason why he had high speculation of the prices every time he attend activities is to pay back the debt to SME.

* US$1692476.70

credits to ent.163.com
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translated by 3unam@sj-world.net