Ex-Fifty Fifty Stars Surrender Earnings Due to Massive Debt

The Seoul Court has recently granted ATTRAKT’s request for a temporary freeze of credit deposits held by former FIFTY FIFTY members, as part of a legal development. This ruling is a result of the damages caused by unlawful actions allegedly committed by The Givers.

On May 7th, ATTRAKT, on behalf of FIFTY FIFTY, released a formal statement, disclosing:

“We have filed an application for the temporary freeze of credit deposits to secure part of the compensation for damages caused by The Givers’ illegal acts to the Seoul Court through legal representatives. On April 24th, the court approved this application.”

The main purpose of freezing credit deposits is to safeguard a portion of the 1 billion won (approximately 730,000 USD) compensation being sought. This amount is only a portion of the total compensation sought, and it may potentially increase in future court hearings.

Saena, Sio, and Aran are currently recovering their health, practicing, and working to find new management! #FIFTYFIFTY #피프티피프티 pic.twitter.com/tWnNV8h4Ug

— fifi updates (fan account) (@updatesfifi) December 29, 2023

The legal decision has resulted in both The Givers and three former members of FIFTY FIFTY facing the possibility of having all of their earnings seized until they have fully repaid the specified compensation amount.

ATTRAKT has terminated their contract with FIFTY FIFTY members Saena, Sio and Aran, but the label still plans to take legal action against them. Keena will remain under the label. pic.twitter.com/8Nx9pqDM7e

— Pop Base (@PopBase) October 23, 2023

This legal case highlights the intricacies of financial conflicts within the K-pop sector and emphasizes the strict legal procedures in place to handle such issues.

“We have filed an application for the temporary freeze of credit deposits to secure part of the compensation for damages caused by The Givers’ illegal acts.”- ATTRAKT representative, May 7th.

According to recent reports, Jeon Hoong Joon, the CEO of ATTRAKT, has been acquitted of allegations made by former FIFTY FIFTY members Saena, Sio, and Aran. The trio had filed a complaint in August 2023, accusing him of misappropriating the group’s music earnings for his own benefit. However, the Gangnam Police Station in Seoul has chosen not to pursue the matter any further.

ATTRAKT announced their intention to sue the trio for $10 million for breaching their contract. In addition, they also included the trio’s parents in the lawsuit for their involvement in the matter. This recent development further highlights the complicated legal disputes between ATTRAKT and FIFTY FIFTY within the K-pop industry.