It was revealed that if EANS terminates the contract, it will have to pay a penalty of 620 billion won (approximately 68 billion yen). Min Hee Jin, former CEO of ADOR, said,
It has been revealed that in March of this year, the company had already calculated the amount of the penalty for terminating the exclusive contract for "NewJeans." This contradicts the claims made by former CEO Min.
On the 24th, Chosun.com reported that "former CEO Min and former vice-president of ADOR filed a lawsuit in March this year against NewJeans for a breach of contract of 450 to 620 billion won.
The three chat rooms were made public during the provisional injunction brought by former CEO Min against HYBE for the prohibition of the exercise of voting rights.
According to the transcript of the talk, Vice President A said, "If the average monthly sales (by member) is 200 million won (approximately 22 million yen), and the cancellation time is the end of June, the remaining period is 62 months.
The total amount is expected to be about 12.4 billion won (about 1.36 billion yen), and five people will receive 62 billion won (about 6.8 billion yen)."
To this, former CEO Min responded, "New Jeans? It's not a big deal."
The table said, "We should assume that the average monthly sales per person is 2 billion won (approximately 220 million yen)." In response, Vice President A said, "We calculated it based on the settlement amount," and added, "If we use sales, it would be 15 billion won (approximately 220 million yen) per person."
It is likely to be between 100 billion and 2 billion won (approximately 165 million to 220 million yen). It was corrected to "450 billion to 620 billion won."
"NewJeans," which debuted in July 2022, has about five years of contract remaining. The company aims to achieve average monthly sales of 2 billion won per person.
If we calculate the penalty fee by multiplying it by the remaining contract period of 62 months, the total penalty fee to be paid by each member is 124 billion won (approximately 13.6 billion yen).
Multiplying this by the number of members of "ans," which is 5, the estimated penalty would amount to 620 billion won. On April 24, former CEO Min's side stated in a press conference, "When we raised the issue of plagiarism internally,
According to information confirmed so far, it was on April 3rd that former CEO Min sent an email to HYBE raising the issue of plagiarism.
The audit began on April 22nd. However, former CEO Min, along with vice-representatives A and B, had already calculated the penalty for the termination of the exclusive contract on March 14th, more than a month earlier.
This fact coincides with HYBE's claim that "an audit was launched based on information from both inside and outside the company that former CEO Min's side was attempting to seize management control."
Some in the legal profession are of the opinion that even if NewJeans were to go ahead with the lawsuit and accept the penalty, it would not be easy to prove ADOR's liability.
Based on the information available at this time, it is unclear what contractual provisions ADOR violated. Up until now, NewJeans members have received the highest standards of treatment in the industry from ADOR.
The settlement amount NewJeansmember received over the past two years has reached 26.1 billion won (approximately 2.875 billion yen), the highest amount for a K-pop girl group.
Prior to this, NewJeans sent a certified letter to ADOR on the 13th, stating that they would terminate the exclusive contract if ADOR did not accept the corrective measures.
However, since Min resigned as a director within ADOR on the 20th and left the company, her return became impossible.
Furthermore, even if NewJeans were to pay the penalty and pursue the lawsuit, it would be difficult to prove ADOR's liability.
Based on the information available at this time, it is unclear what contractual provisions ADOR has violated.
2024/11/26 11:16 KST
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