'World Tour Success' G-Dragon Estimated to Have Received Settlement of Around 60 Billion Won Last Year... Royalties Not Included

[Financial News] Singer G-Dragon, 38, whose legal name is Kwon Ji-yong, is estimated to have received a settlement of more than 60 billion won from his agency last year.
On the 8th, Money Today reported, citing Galaxy Corporation’s audit report disclosed on the 6th, that G-Dragon’s settlement for last year is likely to exceed 65 billion won.
According to the audit report, Galaxy Corporation’s commission expenses on a separate basis last year totaled 71.4 billion won. This is 31 times higher than the same period a year earlier, when commission expenses during G-Dragon’s inactive period were in the range of 800 million to 2.5 billion won.
Since commission expenses in the entertainment industry largely consist of settlement payments to artists, the outlet analyzed that, after excluding costs such as legal and public relations services, G-Dragon’s settlement would amount to more than 65 billion won.
In response, the agency explained, "Commission expenses also include outsourcing costs incurred from G-Dragon’s world tour last year."
However, Galaxy Corporation is said to have recorded 94.3 billion won in outsourcing costs last year under a separate account.
If additional income such as royalties is included, G-Dragon’s actual annual earnings are expected to be even higher.
After releasing his third full-length solo album "Übermensch" last year, G-Dragon held 39 world tour concerts across 17 cities, drawing approximately 825,000 attendees.
On the back of this success, Galaxy Corporation’s consolidated revenue last year surged 618% from a year earlier to 298.9 billion won. Operating profit also reached 12.5 billion won, turning the company back into the black.
gaa1003@fnnews.com Ahn Ga-eul Reporter