FIFTY FIFTY's Label Uploads Conversation on Alleged Meddling of 'External Forces'
FIFTY FIFTY's agency ATTRAKT has uploaded a transcription, laying out the alleged intervention of external forces.
Here's what happened.
ATTRAKT Uploads Transcript Regarding CEO Jeon Hong Joon & Warner Music Korea Executive Director Yoon
On July 3, FIFTY FIFTY's agency ATTRAKT has released a transcript regarding the conversation between its CEO Jun Hong Joon and Warner Music Korea's executive director Yoon.
According to the transcription, executive director Yoon mentions discussing a 20 billion won "buyout" with Ahn Sung Il, the CEO of content group The Givers.
The term "buyout" refers to the recruitment that follows through despite a contract's remaining period and how a certain contract can be subjectively terminated if the required sum of money is paid, even if the contract is ongoing.
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Their conversation is as follows:
Executive Director Yoon (Warner Music Korea): "I have one more thing that I want to check."
CEO Jun Hong Joon (ATTRAKT): "Yes, yes."
Executive Director Yoon: "Previously, I offered a 20 billion won buyout to CEO Ahn Sung Il."
CEO Jun Hong Joon: "I haven't heard that yet."
Executive Director Yoon: "You haven't heard of it?"
CEO Jun Hong Joon: "Yes. What is a buyout?"
Executive Director Yoon: "No, that's the label."
CEO Jun Hong Joon: "Well, what about the label?"
Executive Director Yoon: "That's what we normally express as we take over the children, and that's what we discussed on.
CEO Jun Hong Joon: "No, no."
See some of netizens' reactions below:
Attrakt released a recording (and a transcript) of a phone call between CEO Jeon Hongjoon and Warner Music Korea Exec Director Yoon Mo. In the phone call, Yoon says that a buy out offer of 20B was made to Ahn Sung-il for Fifty Fifty.
— TMIKpop (@tmikpop) July 3, 2023
JHJ said he hadn't heard of that. Yoon then said, you hadn't heard of it?.
— TMIKpop (@tmikpop) July 3, 2023
JHJ asked what a buyout was and Yoon said that in layman's terms, (WMK) would take over the idols and everything. JJH replied no, no. https://t.co/QdSeMDImyy
So JHJ was claiming he was unaware Warner reached out to Siahn to buyout FIFTY FIFTY for 20B won?
— ≷ midzyalphaz 🐺 (@midzyalphaz) July 3, 2023
FIFTY FIFTY Files to Suspend Exclusive Contracts With ATTRAKT
On June 28, all four members of FIFTY FIFTY announced a legal statement through law firm BARUN.
According to the members, they have filed provisional disposition to terminate their exclusive contracts' validity with their own agency ATTRAKT.
'We are here to announce that on June 19, all four members of FIFTY FIFTY have filed an application of provisional disposition to suspend their contracts. The filing was made at the Seoul Central District and the trial is still ongoing."
The decision to file such application was due to ATTRAKT violating certain terms in their contracts.
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BARUN elaborated that according to the members' claims, concerns were raised regarding non-transparency in settlements, forced scheduled promotions, and the sudden disclosure of a member's recovery without properly consulting the necessary parties involved.
The statement asserted that ATTRAKT had failed to address these concerns directly. It also explained how the decision to file such an appeal was solely from the members' independent actions and choices without any influence of a third party.
Furthermore, the law firm hoped that FIFTY FIFTY members will not receive any kind of defamation from ATTRAKT, since the group simply wants to go back into their usual promotions and their fandom Hunnies.
What are your thoughts on the matter? Let us know in the comments below!
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