K-POP News

Korean Lawmaker Introduces “FIFTY FIFTY Act” To Shield Small And Medium-Sized Companies

ATTRAKT’s CEO responded to the invoice.

The continued authorized battle between K-Pop woman group FIFTY FIFTY and their company, ATTRAKT, has drawn a lot consideration, dividing the general public’s opinion in favor of either side. The incident has seemingly affected the nation’s authorized system as properly, given {that a} lawmaker is making an attempt to introduce a invoice associated to the matter.

The previous four-member lineup of FIFTY FIFTY | @we_fiftyfifty/Instagram

In accordance with reviews on December 14, KST, Ha Tae Kyung, a member of the Individuals Energy Get together and a lawmaker, has launched a revised invoice referred to as the “FIFTY FIFTY Act,” aimed to guard small and medium-sized firms within the fashionable tradition and humanities sector.

Ha Tae Kyung

The act, formally named the “Partial Modification to the Pop Tradition and Arts Business Improvement,” safeguards these businesses’ rights whereas establishing a fair-trade order within the trade. One of many express objectives of this act is to make sure equal authorities assist for leisure firms of all sizes.

The proposed modification additionally states that the present legal guidelines and programs solely concentrate on defending artists from potential mistreatment from their businesses, and the brand new modification will add authorized measures to assist businesses within the face of out of doors threats. It was created in response to a scarcity of authorized avenues for businesses to battle outsider influences like poaching and persuading artists to interrupt their contracts illegally. Lawmaker Ha said that these new additions to the act purpose to supply a extra balanced dynamic between artists and their businesses.

Because the worldwide fame of K-Pop is growing, a balanced improvement between artists and businesses is important to additional invigorate the trade. We’ll pursue sustainable improvement of the K-Pop trade by defending not solely artists however businesses as properly.

— Ha Tae Kyung

ATTRAKT’s CEO Jeon Hong Joon responded to this information, thanking Lawmaker Ha for the invoice.

I’m grateful to see a invoice being proposed to guard businesses from unfair intervention by exterior forces, akin to stealing (scouting) artists or tampering, that are rampant within the leisure trade. In future, the FIFTY FIFTY Act will assist create a reasonably aggressive atmosphere, guaranteeing that the blood and sweat efforts of small and medium-size companies usually are not wasted.

— Jeon Hong Joon

In the meantime, FIFTY FIFTY, the fourth-generation woman group that noticed astronomical success with their single “Cupid” in 2023 within the world music market, has been embroiled in a prolonged authorized battle with ATTRAKT since June. The company mentioned that exterior forces had tried to poach the members, whereas the members claimed they had been mistreated by the company and filed for a brief injunction to droop their unique contracts. The court docket denied the injunction, stating a scarcity of proof, and all members besides Keena pushed ahead with appeals. Keena returned to ATTRAKT and is selling alone to FIFTY FIFTY. In the meantime, after the members’ appeals had been rejected within the District Courtroom, ATTRAKT terminated their contract with the three members, Sio, Saena, and Aran. In accordance with the most recent reviews, the company has sued the three members for damages value ₩130 billion KRW (about $99.7 million USD).

You possibly can learn a extra detailed account of the FIFTY FIFTY versus ATTRAKT authorized battle right here.

Related Articles

Back to top button