Jessica, Former Girls' Generation Member, Sued in Hong Kong for Not Repaying 8 Billion Won
[Asia Economy Reporter Kang Joo-hee] Jessica (real name Jung Soo-yeon), a former member of the idol group Girls' Generation, has been sued in Hong Kong for defaulting on a debt worth around 8 billion KRW.
According to media reports on the 27th, the fashion brand 'Blanc & Eclare,' founded by Jessica, was sued in the Hong Kong High Court for failing to repay a debt of 6.8 million USD (approximately 8.05 billion KRW).
Joyking Enterprise, which filed the complaint, took legal action demanding repayment of 6.8 million USD including principal and interest after Blanc & Eclare failed to repay the debt by the scheduled repayment date of the 10th.
Previously, Blanc & Eclare reportedly borrowed 3 million USD (approximately 3.54 billion KRW) and 1 million USD (approximately 1.18 billion KRW) in two installments from Spectra SPC in October 2016 and May 2017, respectively. In August, Joyking Enterprise signed a loan transfer agreement with Spectra SPC and became the creditor.
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Meanwhile, Jessica established Blanc & Eclare in August 2014 after leaving Girls' Generation. It is known that Tyler Kwon, a Korean-American businessman who has been dating Jessica since 2013, has been managing the company. Tyler Kwon is also the CEO of Jessica's agency, Coridel Entertainment.
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