NewJeans is at present caught within the center between HYBE and ADOR, within the feud between HYBE and ADOR’s CEO Min Hee Jin. HYBE accused Min Hee Jin of making an attempt to realize management of the administration rights to ADOR, whereas Min Hee Jin has since denied the accusation. She retaliated with allegations that she had filed inner complaints about ILLIT plagiarizing NewJeans, solely to be slapped with a sudden audit and ousting. She denies ever making an attempt to usurp energy.
While the reality continues to be unclear, some really feel that her sudden accusation of plagiarism might have been finished in a bid to keep away from paying the hefty penalty charges for breaking of contracts. Not solely will she should pay NewJeans’ breaking of contract if she needs to take them along with her, however she additionally has to pay the breach charges of her personal employment contract with HYBE.
In NewJeans’ case, in line with Korea’s Fair Trade Commission’s normal unique administration contract, the charges that one has to pay for a termination of contract is the sum of the typical month-to-month gross sales for the earlier two years, multiplied by the variety of months remaining within the contract. They may also should pay again the investments that they acquired. Although nobody is aware of how a lot cash the corporate invested into NewJeans, an leisure business official claims that the typical value for a woman group is between ₩7.00 billion KRW (about $5.10 million USD) to ₩1.00 billion KRW (about $729,000 USD).
NewJeans’ remaining contract interval is claimed to be round 60 months. They additionally recovered all its investments because of their success, and had been paid a wage after simply two months of debut. This permits them to be exempt from paying again the investments, as is per normal for different much less profitable celebrities. NewJeans’ common month-to-month revenue has been estimated to be ₩3.50 billion KRW (about $2.55 million USD) throughout their debut period. Going based mostly off that, they should pay at the least ₩210 billion KRW (about $153 million USD) in penalties. The quantity might be extra, as their revenue has elevated greater than the unique debut period revenue.
Information for the numbers was supplied by Business Post Korea, and should include inaccuracies.
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Source: www.koreaboo.com