Kai Ko to pay SGD 2 million to endorsement agencies
After tainting his image as a role model and brand ambassador due to his drug arrest last month, Taiwanese actor Kai Ko will reportedly have to pay a huge amount of monetary compensation to companies of which brands he has endorsed.
As reported on Mingpao News, the actor may be facing a huge loss, amounting to an estimated NTD 50 million (approx. SGD 2 million) after most of his commercials had to be pulled out from various media platforms due to his drug arrest.
It was also reported that the 19 companies that collaborated with him are split into three groups - one third of the endorsers have already remove his advertisements and are seeking for damages; others, like KFC and Adidas may not need to ask for compensation as Ko’s contract is nearing its expiry, while the rest are still observing the situation to see if they need to seek compensation.
If the latter group decides to demand for damages as well, Kai Ko will then be facing a financial loss up to NTD 100 million (approx. SGD 4 million).
Meawhile, Ko’s manager, Angie Chai revealed that the management company will be sharing the losses with the actor, and said, “We will go through the hard times together.”
(Photo Credit: AsianPopNews.com)