Singer G-Dragon (Kwon Ji-yong) reportedly received a massive payout of around ₩60.0 billion KRW (about $40.0 million USD) from his agency Galaxy Corporation last year. Through aggressive activities such as a world tour and broadcast appearances, he generated nearly ₩300 billion KRW (about $200 million USD) in revenue for the company, leading to a substantial settlement payout. Including additional income streams such as royalties, his actual annual earnings are estimated to be even higher.
According to Galaxy Corporation’s audit report disclosed on April 6, the company’s standalone payout service fees, which largely consist of artist settlement payments, reached ₩71.4 billion KRW (about $47.6 million USD) last year. This marks a 31-fold increase compared to the previous year. During periods when G-Dragon was inactive, these fees were only around ₩800 million KRW (about $533,000 USD).
In the entertainment industry, service fees are mostly composed of payments made to artists. Excluding expenses such as legal and PR outsourcing included in this category, G-Dragon’s settlement alone is estimated to exceed ₩65.0 billion KRW (about $43.3 million USD).
In response, the agency stated that outsourcing costs related to G-Dragon’s world tour were also included under service fees. However, Galaxy Corporation separately records outsourcing costs in a different account. Last year, outsourcing expenses surged 619% to ₩94.3 billion KRW (about $62.9 million USD).
Until the first half of last year, Galaxy Corporation was effectively operating as a one-artist agency centered around G-Dragon. Although artists like Kim Jong-kook and Song Kang-ho were later signed in the second half, their share of settlements is understood to be relatively small. An industry insider noted that the revenue gap between G-Dragon and other artists is reportedly over 100 times.
Last year, G-Dragon released his third full-length solo album “Übermensch” and carried out extensive promotions, including a global tour, TV appearances, and advertisements. Starting in Goyang, Korea in March, he held 39 shows across 17 cities, attracting approximately 825,000 attendees.
The success of his world tour significantly boosted Galaxy Corporation’s overall performance. The company’s consolidated revenue reached ₩299 billion KRW (about $199 million USD) last year, a 618% increase year-over-year. Management revenue tied to G-Dragon’s tour surged 859% to ₩270 billion KRW (about $180 million USD). During this period, operating profit turned positive, reaching ₩12.5 billion KRW (about $8.33 million USD).
You can read more about how he brought his company out of the red below.
G-Dragon’s Astronomical Income Singlehandedly Drags His Label Out Of Loss