The fashion group established by Jessica Jung is in default on an 8-billion-won loan

Recently, local media reported that Joy King Enterprises filed a complaint with the Hong Kong High Court on September 24, stating that the fashion group Blanc & Eclare, founded by Jessica, did not pay them back the amount of 6.8 million dollars (about 8.05 billion won).

Earlier, Jessica left Girls’ Generation and established the fashion brand “Blanc & Eclare” in August 2014. The CEO that has been run this brand is Jessica‘s boyfriend, a Korean-American businessman, Tyler Kwon.

According to reports, Blanc & Eclare borrowed the money from Spectra SPC twice. One was 3 million dollars (3.54 billion won) in October 2016, and the other was 1 million dollars (1.18 billion won) in May 2017.

In August this year, Joy King Enterprises and Spectra SPC signed a loan transfer contract. However, Blanc & Eclare failed to pay back the money on the repayment date, which had been scheduled for September 10. Therefore, Joy King Enterprises filed a lawsuit against CEO Tyler Kwon, asking for the amount of repayment, adding the principal sum and interest.

Tyler Kwon is Jessica‘s business partner and boyfriend, who she has been dating for 8 years. He graduated from college in the U.S and has been conducting businesses in Korea, the U.S, and Hong Kong.

In April, Tyler Kwon uploaded a “couple” photo to celebrate Jessica‘s birthday with a caption saying, “My best friend“, expressing his unchanged love for her during these 8 years.

Sources: nate

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