Agency suffers $4M loss due to Kim Soo Hyun’s endorsement cancellations amid underage dating controversy

South Korean actor Kim Soo Hyun. Photo from Kim's Instagram

The number was reported by The Standard.

According to The Times of India, Kim has lost over 20 endorsement deals since allegations surfaced claiming he dated Kim Sae Ron when she was just 15. Among the brands that have severed ties with him are luxury fashion house Prada, bakery chain Tous les Jours, and cosmetics brand Dinto.

This controversy has resulted in a significant financial strain on Gold Medalist, with reports from Dimsum Daily indicating that the agency, which once maintained a financial surplus of 2-3 billion won, is now facing serious cash flow problems. Financial sources have also reported that Gold Medalist has had to discontinue its contract with the outsourced cleaning service as part of cost-cutting measures.

The scandal first erupted on March 10, when the Garo Sero Institute, also known as Hoverlab, aired an interview with a woman claiming to be Kim Sae Ron’s aunt. The woman alleged that Kim and Kim Sae Ron had been in a relationship for six years, beginning when the late actress was just 15 years old.

Following the allegations, the family of Kim Sae Ron accused Kim of pressuring the actress to repay 700 million won, which they claim exacerbated her distress leading up to her death. They also alleged that the money was provided by Kim and Gold Medalist to help Kim Sae Ron recover from the fallout of a 2022 DUI incident, which had severely impacted her career.

Gold Medalist has denied the allegations of underage dating, maintaining that the relationship between Kim and Kim Sae Ron occurred between mid-2019 and late 2020, after the actress had reached adulthood. The agency also confirmed it has taken legal action against Garo Sero Institute and the individual claiming to be Kim Sae Ron’s aunt.

Despite the denials, the controversy has taken a toll on Kim’s public image. The actor has lost several lucrative brand endorsements, seen a sharp decline in social media followers, and is reportedly no longer South Korea’s highest-paid actor.

Kim, a top star in South Korea, is internationally recognized for his roles in hit dramas such as "Dream High," "Moon Embracing the Sun," "My Love from the Star," "It’s Okay to Not Be Okay," and "Queen of Tears."

Kim Sae Ron was found dead in her Seoul home on Feb. 16. Authorities ruled out foul play, and her funeral was held on Feb. 19.

The actress had a promising career before her passing. She gained international recognition with her role in the 2009 film "A Brand New Life," becoming the youngest South Korean actress to attend the Cannes Film Festival and the youngest nominee for Best Actress at the Baeksang Arts Awards.

However, her career faltered following her 2022 DUI scandal, which led to the loss of acting roles and endorsement deals.