Chart-topping Okay-pop group NewJeans introduced Thursday their resolution to go away their label ADOR, accusing the corporate of “mistreatment”.
The information comes two weeks after the lady group despatched an ultimatum to ADOR dad or mum firm HYBE—behind Okay-pop sensation BTS—telling the agency they might terminate their contract except a set of calls for was met.
“From midnight today, our contract will be terminated with ADOR,” member Minji stated at a press convention.
NewJeans made their debut in 2022 and the Okay-pop phenomenon is amongst HYBE’s most profitable teams.
Band member Hanni stated Thursday the group has “faced mistreatment, not just towards us but also including our staff,” with out elaborating.
NewJeans skilled “deliberate miscommunications and manipulation regarding multiple areas,” she stated.
“This is not the type of work ethic we respect and not one we want to be a part of, and to continue working under a company with no intention of protecting NewJeans would only do us harm,” stated Hanni.
ADOR didn’t instantly reply to AFP requests to touch upon the announcement.
The band members stated they might proceed with their contractual obligations, however acknowledged they might not be capable of use the title NewJeans.
“However, that doesn’t mean that we are giving up on the name at all,” stated Danielle.
“We will continue to fight for NewJeans. NewJeans never die.”
The group’s calls for addressed to HYBE included an apology for a remark by one of many firm’s managers, who’s accused by NewJeans of bullying, and the fast reinstatement of their producer Min Hee-jin.
Min resigned final week from ADOR’s board of administrators after HYBE accused her of breach of belief, which sparked a sprawling authorized and PR battle.
‘Predetermined outcome’
Business specialists stated the choice by NewJeans was anticipated.
“The contract termination lawsuit itself has been widely anticipated in the market, so today’s press conference, in a way, seems to have a predetermined outcome,” stated Lim Soo-jin, an analyst at Daishin Securities.
“Entertainment analysts have generally excluded NewJeans-related projections from next year’s estimates, so the overall impact is not expected to be substantial,” he instructed AFP.
The hefty payment which NewJeans might should pay will compensate for “financial loss” on the label, he added.
The Okay-pop group might should face a contractual penalty of as much as 620 billion gained ($440 million) in line with authorized specialists.
The band members, nevertheless, disagree.
“We have not breached the exclusive contract and have done our best in our activities so far, so we believe there is no reason for us to pay any penalty,” stated band member Haerin.
“On the contrary, it is ADOR and HYBE that violated the contract, leading to this situation, and the responsibility clearly lies with them.”
