[Full text] ADOR decides to terminate contract with NewJeans, files lawsuit to confirm validity of exclusive contract... ”Inevitable decision to work with NewJeans”

While Korean girl group NewJeans announced the termination of their exclusive contract, HYBE's label ADOR eventually filed a lawsuit to confirm the validity of the exclusive contract.
On the 5th (today), ADOR announced through an official statement, "We recently announced on December 3rd that our exclusive contract with our artist, NewJeans, will remain valid.
In order to clearly confirm this point legally, we have filed a lawsuit in the Seoul Central District Court to confirm the validity of the surviving contract."
They continued, "The issue with our artists was resolved through legal proceedings.
We did not want this to happen, but we have confirmed with the artist and many other interested parties that an exclusive contract between an agency and an artist cannot be easily terminated at the insistence of one side.
We have made this unavoidable decision, judging that we need to inform you. Above all, the K-POP industry, and the Korean pop culture industry, have grown on the foundation of healthy relationships of trust between artists and agencies.
"We are clearly seeking a court decision to protect the foundation of our industry," he said, "We are heavy-hearted in delivering this news, but we hope that our artists will be able to continue to enjoy the benefits of exclusive contracts in a legal manner."
We are aware that the contract has been terminated due to a mistaken belief that the contract has been terminated, and that such a move could lead to entertainment activities violating the existing exclusive contract, which could cause unforeseen damage and confusion to those in the industry both in Korea and overseas.
ADOR emphasized, "Today's K-pop is the result of the synergy between the talent and relentless efforts of artists, and the full investment and trust of agencies with their know-how.
It is an essential characteristic of pop culture, especially the K-pop industry, that agencies must provide support for a long time in an uncertain situation where it is difficult to predict the outcome.
"The agency's advance support is based on the expectation and trust that the agency and the artist can grow together during this period, and was mutually agreed upon based on this premise.
"If this basic agreement is not respected, the efforts of the firm, which has endured uncertainty for a long time and placed its full trust in the name of investment, will be in vain.
In other words, we can no longer expect any more systematic support, investment, or system sophistication in this industry, and it will no longer be possible to continue the work that was done with the sweat and dreams of countless people.
"What we are most concerned about is that the virtuous cycle of growth in the K-pop industry, which has developed rapidly, is about to come to an end."
Finally, "ADOR's position of working with NewJeans remains unchanged. We will seek a judicial decision regarding the validity of the exclusive contract.
"Apart from that, we believe that it is absolutely necessary to have a thorough and serious discussion with the artists," he said, "Despite several polite requests from ADOR officials, the artists have yet to make any decision."
Although we have not been able to have an opportunity to communicate with everyone, we will make continuous efforts to clear up any unnecessary misunderstandings that have built up between our artists and our company.
We will do our best to repay those who love NewJeans' music with better activities. ADOR and all members of NewJeans will overcome the current situation wisely.
I ask for your continued support and encouragement so that this can be achieved."