Rapper Dok2's Illionaire Records Wins Lawsuit Over Unpaid Precious Metals Payment

Rapper Dok2. Photo by Dok2

[Asia Economy Reporter Lee Gwan-ju] The label Illionaire Records, established by the famous domestic rapper Dok2 (real name Lee Joon-kyung), won a lawsuit for payment of goods against a precious metals company.

On the 22nd, Judge Kang Min-jung of Civil Division 15 at the Seoul Southern District Court announced that the court dismissed the plaintiff's claim in the lawsuit filed by a U.S.-based precious metals company A against Illionaire Records for payment of goods.

Company A filed a lawsuit in October last year against Illionaire Records, claiming that after Dok2 purchased precious metals worth about $206,000 (approximately 240 million KRW) in 2018, about $35,000 (approximately 40 million KRW) of the payment was not made. Company A argued, "Since we believed Dok2 represented Illionaire Records and made the contract, Illionaire Records should pay the outstanding payment for the goods."

However, the court stated, "Dok2 did not use any name that could be mistaken as representing the agency when dealing with Company A, and only his stage name was listed on the statement," and "Based on the evidence submitted by Company A alone, it is difficult to see that Illionaire Records assumed Dok2's debt for the goods," rejecting the plaintiff's claim. Accordingly, Illionaire Records is not required to repay the debt Dok2 owed to Company A.

Illionaire Records, established in 2011 by Dok2 and rapper The Quiett (real name Shin Dong-gap), was one of the leading labels representing the Korean hip-hop scene. However, after Dok2 stepped down as CEO of Illionaire Records in November last year and left the company in February this year, Illionaire Records disbanded on the 6th of this month.

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