Federation of agencies urges NewJeans to retract contract termination

Dec 04, 2024, 09:55 am

The Korea Management Federation (KMF) urged NewJeans to reconsider its decision to terminate its exclusive contract with Ador.

“The loss of the validity of contract due to the unilateral claim of termination of the contract should be made very carefully in that it could severely damage the trust relationship of the overall exclusive contract. If contracts can be terminated simply through declarations, how can the validity of exclusive contracts be guaranteed? Who would invest in such uncertain agreements?” KMF said in a statement. “Contact termination should be approached with extreme care, and discussions should focus on maintaining and improving the contract rather than terminating it outright.”

“Under the current law, there are no measures that take the company’s position into account. If you want to terminate the contract maliciously, there is nothing you can do to maintain the contract other than to finally claim damages,” it said. “From this point of view, the current approach made by NewJeans is a very malicious way to shake the foundation of the K-pop culture and arts industry.”

NewJeans had previously announced their contract termination during an emergency press conference on November 28.

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