Following the news that Keena received settlements, other FIFTY FIFTY members sent proof of content to Attrakt
On Nov 11th, reporter-turned-YouTuber Lee Jin-ho uploaded a video titled “Keena’s Settlement, Why? What The 3 Former FIFTY FIFTY Members Did”.
Lee Jin-ho said, “The settlement amount for Keena is confidential. Every agency is the same. After finding out through various methods, we could confirm that it’s in the tens of millions of won range.”
However, he added, “One more thing confirmed through Keena’s settlement is that all the direct expenses of the members, amounting to 3 billion won, were repaid only with the ‘Cupid’ music streaming revenue.”
Looking at the investment records of FIFTY FIFTY, there is 3 billion won in direct investment, 3.3 billion won in indirect investment, and 1.7 billion won in reserve. From the members’ perspective, they only need to repay the direct investment of 3 billion won, and the situation is such that everything has been settled only with music streaming revenue. Furthermore, the meaning is that the three former FIFTY FIFTY members have naturally dropped the “breach of duty charge” they filed against Attrakt’s CEO Jeon Hong-joon in August.
In a situation where streaming and digital revenue is the only source of income due to the members’ departure, Interpark, which invested 6 billion won, operates a structure in which profits are repaid to them in advance. Lee Jin-ho explained, “The remaining three members (Saena, Aran, Sio) pointed out that Attrakt’s behavior would be considered embezzlement if they did not receive settlements from the company once the streaming revenue exceeded 3 billion won. However, by paying Keena tens of millions of won, they have broken the logic on this matter”.
The YouTuber added, “When Keena received tens of millions of won in settlements, other three members sent a proof of content to Attrakt”, adding “The first document points out the fault of Attrakt while the second one claims their rights. It emphasizes that the members have the right to receive settlements as well.”
Lee Jin-ho continued, “For the three members whose exclusive contracts have already been terminated, the penalties and requested amount of damage compensation they have to pay are much higher than the amount of settlements they could receive. Of course, if they hadn’t left the company, it is reasonable that the company would have to pay them. However, Attrakt stated that they cannot settle until details are organized through the lawsuit.”
Revealing that Keena has been working hard in the practice room every day as a way to reflect on her past mistakes, Lee Jin-ho said, “FIFTY FIFTY has been nominated for two categories, Top/Duo Group and Top Global K-pop Song, at the 2023 Billboard Music Awards, and will attend the awards ceremony.”
Meanwhile, FIFTY FIFTY ranked No.17 on the US Billboard’s Main Single Chart ‘HOT 100’ with their first single “The Beginning: Cupid” released in February. Staying in the chart for 25 weeks, FIFTY FIFTY became the longest-charting girl group in K-pop history and earned the nickname “miracle of idols from small and medium-sized companies”. However, the members filed an injunction against their agency to suspend exclusive contracts. The court rejected their injunction application so three members, except for Keena, submitted an appeal. Later, Keena returned to Attrakt and the company announced the termination of exclusive contracts with the remaining three members.
Source: Daum
