FIFTY FIFTY's ongoing dispute with management company worsens; complaint filed
K-pop band FIFTY FIFTY has been in a tiff with their artist management company, ATTRAKT. The all-girl band has filed a complaint against the company's CEO, Jeon Hong-joon. The case has reportedly been filed for breach of trust. The members also wrote a hand-written letter to their fans, speaking about the dispute for the first time in public.
Why does this story matter?
FIFTY FIFTY is one of the most popular K-pop girl bands with a fan following across the world. The band has lately been in the news for their ongoing dispute with their management company. Before ATTRAKT, the band was being managed by Joon's previous company named Star Crew Entertainment. Meanwhile, the complaint was filed by the band on Thursday (August 17).
What is the complaint about?
FIFTY FIFTY was later transferred to ATTRAKT but before their debut. Reportedly, the band's legal representative claimed in the court that some funds and debts were being transferred between Joon's two companies wherein the band's revenue was being used to pay off debts. The criminal complaint was filed for "violating the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (breach of trust)."
Band's agency delayed providing financial statements
More in its statement, the law firm said, "The FIFTY FIFTY members' [grievances] about 'the agency's delay in providing statements on their earnings, missing revenue, and violation of their settlement obligations' go beyond mere complaints." It further said that their exclusive contract won't remain intact till the time Joon, "who has committed a breach of trust," stays in charge of ATTRAKT.
'To protect our music, we had no other choice'
The band members, on Thursday (August 17), put out a letter for their fans, addressing the controversy. "To protect our music, we had no other choice. So, after a lot of consideration, our members have decided to face this path. We will continue to move forward by making careful decisions to overcome the current confusion and difficulties," said their letter.
