[NEWS] JYJ Kim Junsu’s side: “Construction companies embezzled construction funds. Will take definitive action”

JYJ’s Kim Junsu, who is the director of Jeju Island’s Toscana Hotel, and his party has revealed that they will take legal action. His side stated, “The constructors of the hotel, Cheonji Consolidated Construction and Shijei Construction, have embezzled construction funds.”

Jeju Island’s Toscana Hotel revealed through their media release on the 11th that “The two construction companies charged over double the actual cost of construction. We are releasing proof of their embezzlement” and “We will take strong, definitive action through the courts.”

Regarding the construction companies’ application to the courts for an order for payment in the amount of 5 billion won, and a provisional seizure of property in the amount of 1.8 billion won, Toscana stated “We’ve never borrowed money from them, yet they’re trying to maliciously smear a Hallyu star.”

It is correct that on August 4th, a promissory note was written but was “necessary as an accounting document” and there is no obligation to pay the two construction companies.

Because of worries that the promissory note would be maliciously used, Toscana states that they received a confirmation document immediately.


Toscana has revealed the promissory note, which states “The promissory note is to be used as an accounting document by the bank and the company. There is no repayment value associated with it. On this, we have signed and sealed it.”

In the building process of the hotel, Director Kim Junsu took out a 15 billion won loan from Kookmin Bank and 9 billion won loan from Nonghyup Bank, the latter of which has already been repaid.

Toscana’s legal representative, Attorney Jung Heewon, said “In this process, 6 billion won was provided to the construction companies to purchase equipment for the hotel, to which Director Kim Junsu is liable for the debt.”

She added, “Therefore, Director Kim Junsu never had the obligation to repay the two construction companies in the first place.”

Toscana’s Managing Director of Marketing, Park Sung Min, stated “The construction companies knew we were going to take legal action and deliberately released malicious reports. They thought that because the director of our hotel is a Hallyu Star and can not take an active role in the conflict, that they could mock us through the media.”

He continued, “After JYJ’s concert in Osaka on December 14th, we will lodge a lawsuit for compensation for damages.”

On the other hand, CBS No Cut News has tried many times to reach Cheonji Consolidated Construction through phone to hear their stance, but all attempts to reach them have failed.

Source: No Cut News
Translated by: ohmyjunsu of intoXIAcation


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: