Content company Ascendio expressed their position on the recent controversy over their participation in the production of Netflix’s “Physical: 100”.
On February 7th, Ascendio released their official position on the controversy over their participation in the production of Netflix’s entertainment program “Physical: 100” raised by Luyworks Media, the production company in charge of the show.
Ascendio said, “Ascendio signed a contract for planning and development investment with Luyworks Media on February 24th, 2022. The contract states that Ascendio participates in the planning and development of ‘Physical: 100’, and has the right to specify our company name as a co-producer of the program.”
They continued, “Luyworks Media has unilaterally violated the contract and is in default under the contract for failing to return the investment”, adding “Ascendio is requesting Luyworks Media to admit their fault and fulfill the contract. The current contract is valid because Ascendio also has the right to terminate it.”
Lastly, they emphasized, “If Luyworks Media agrees, we are willing to disclose all related data. We feel sorry for causing concern to the staff and will resolve the controversy as soon as possible”.
According to an exclusive report by The Fact on February 2nd, MBC and Luyworks Media raised the issue, claiming that KOSPI-listed company Ascendio recently affected the market as they posted IR data related to “Physical: 100” on the news about securities firms’ stocks. Luyworks Media official stated, “The information that Ascendio participated in ‘Physical: 100’ is not true. They only said they would invest in item planning and development in the early stages.”
Meanwhile, “Physical: 100” was also embroiled in the controversy over the physical contact scene between martial art player Park Hyung Geun and female bodybuilder Kim Chun Ri.