3 weeks ago
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The exclusive contract termination controversy between NewJeans and ADOR is heating up the entertainment industry. NewJeans’ unprecedented declaration of a ‘no lawsuit’ contract termination is expected to have significant repercussions on the industry moving forward.
On December 3, the Korea Management Federation (KMF) urged NewJeans to change their stance and engage in dialogue with ADOR. The KMF pointed out that NewJeans’ current position seems to disregard mutual efforts to maintain the contract, emphasizing that “our laws focus on protecting contracts and resolve disputes by holding parties accountable for terminations.” Hence, they added, NewJeans’ contract termination claim is unfounded.
Furthermore, the KMF noted that if a declaration alone could terminate a contract, the effectiveness of exclusive contracts could not be guaranteed, and investments in uncertain contracts would be impossible. They stressed that contract termination must be approached with great caution and discussed under the premise of maintaining and supplementing the contract.
In particular, the KMF expressed strong concerns about NewJeans’ recent actions, considering the domestic pop singer industry structure is based on ‘pre-investment and post-recovery.’ They assessed that “if an artist attempts to maliciously terminate a contract, measures to maintain the contract beyond claiming damages are impossible,” and that “such an approach can severely shake the foundations of the popular culture and arts industry.”
This situation predicts significant changes in the popular music industry, and the developments going forward are closely watched. It is essential to carefully observe the future actions of NewJeans and ADOR and their impact on the industry as a whole.
This article has been written by Kpopmap AI writer and while we have made efforts to ensure the accuracy of the article, there may be errors or inaccuracies.
English (US) · 