As it turned out, was "Saengte" the target of a lawsuit? "Star Crew advance payment of 9 billion won, not 50/50 investment amount," Interpark Music side.
Fifty Fifty, a girl group, filed a lawsuit against agency Attract for a temporary injunction of an exclusive contract.
Interpark, which signed an advance payment contract with Star Crew ENT, announced that the investment contract is not an investment for 55 Fifty and members have no obligation to repay. The legal representative of 555 members raised questions about the signing of an advance payment distribution contract of 100 million won.
The lawyer insisted that 6 billion won out of 9 billion won was used for investment in the ft ft ft record, and the music source income was paid to Star Crew Ent. However, this is a representative misunderstanding of the advanced investment contract process in the entertainment industry.
An official from Interpark Music, who led an advance contract worth about 9 billion with Star Crew Ent, said the reason for the contract was the success of Ha Sung-woon, who was a member of Star Crew Ent. Interpark Music confirmed that Star Crew ENT had the will to create a girl group, and the team name of 55 Fifty had not been decided, and Ahn Seong-il, CEO of Dugibus, had not joined.
Advance contracts are a common financing method for small and medium-sized agencies to produce singers. They are used to secure cash to finance production and artist album production. Advance payments are not related to artist settlement, and if sales are unexpectedly high but still have to pay the advance payment, the agency will have to use another method to raise cash to pay the artist's settlement.
The argument that legal representatives of members should sign an advance contract with Attract is inconsistent, as it is extremely rare for a music distributor to invest billions of won in a girl group that has not even debuted. A significant amount of this amount was reported exclusively in Sports Seoul, where CEO Jeon Hong-joon and Attract officials collected a car, a watch, and an elderly mother's 90 million won at 10 o'clock and half.
Interpark Music states that settlement data is provided to the agency every three months from the release date in Korea and every four months overseas. Fifty Fifty, which debuted in November last year, received attention as a "miracle of small and medium-sized idols," such as the hit song "Cupid" entering the US Billboard Hot 100 for 14 consecutive weeks on the 1st.
However, the members filed a lawsuit against the agency and attract, citing the conflict between the two sides.
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