FIFTY FIFTY’s agency is obviously trying to deal with two issues at once
After the court rejected the injunction to suspend contracts filed by FIFTY FIFTY members, Attrakt immediately sued The Givers, identified as the main cause of this incident, and started preparing to debut a new girl group.
The conflict started in June when FIFTY FIFTY members notified their agency that they would like to terminate their exclusive contracts, pointing out concerns regarding the transparency of settlements and the agency’s capabilities as the reasons. However, the court dismissed FIFTY FIFTY’s application for an injunction to suspend contracts in August. The members submitted an appeal against the court’s ruling, but the atmosphere is not favorable for FIFTY FIFTY. It is unlikely that they would be able to reverse the situation and public criticism as well as negative evaluations from people in the entertainment industry have reduced the chances for the group to make a comeback.
In the meantime, FIFTY FIFTY’s EP album “The Beginning” with songs that had already been released before the conflict was introduced on September 22nd. Attrakt’s CEO Jeon Hong-joon explained that the compilation album has been scheduled for a release in the US since May.
As soon as the first ruling that did not allow FIFTY FIFTY members to suspend their contracts was confirmed, CEO Jeon immediately began launching a new girl group by planning to select members through an open audition program that the public could see. Detailed schedules are still undecided but it seems like CEO Jeon has already sketched everything in his head. After successfully attracting 10 billion won from a Singaporean investor, he plans to head back to the US and focus on the new girl group project as a producer.
Apart from CEO Jeon, Attrakt is also taking legal action. They filed a lawsuit against The Givers, Ahn Sung-il and Baek Jin-sil to claim a damage compensation of 1 billion won on September 27th. The agency accused them of violating obligations under their business service contract, embezzlement, etc.
Prior to this, Attrakt also received approval from the court to obtain the copyright fees that Ahn Sung-il reportedly embezzled from the company. The amount of copyright fees Ahn Sung-il would receive from FIFTY FIFTY’s debut album and the recently released EP has been suspended and Attrakt will also apply to seize the remaining amount in the future.
Attrakt is currently in the process of filing a civil and criminal lawsuit with those who were in charge of FIFTY FIFTY through a business service contract. The court’s approval in favor of Attrakt is equivalent to the first ruling on Ahn Sung-il’s wrongdoings.
Source: Nate
