FIFTY FIFTY Agency Sues Warner Music for $14.5 Million USD

On October 23, ATTRAKT announced that they have initiated legal proceedings seeking 20 billion won (approximately $14.5 million USD) in damages against their former CEO Clayton Jin and current executive director Yoon Hyung-geun of Warner Music Korea, who are accused of manipulating circumstances prior to the contractual expiration.

The company elaborated, stating that Warner Music Korea was instrumental in the ongoing contractual conflict involving ex-FIFTY FIFTY members during the alleged manipulation. ATTRAKT asserted, “We possess substantial evidence, including reports of a meeting held on May 17, 2023, with parents of the former members at the Warner Music Korea headquarters.”

ATTRAKT emphasized that their reputation and operations have suffered significantly due to illegal activities that disrupted the normal functioning of the former FIFTY FIFTY members. They reiterated their commitment to hold both Clayton Jin and Yoon Hyung-geun accountable for their roles in this manipulation.

Jeon Hong-jun, the CEO of ATTRAKT, who spearheaded the damages lawsuit against Warner Music Korea, remarked on the gravity of the situation, stating, “An act by a subsidiary of Warner Music, recognized as one of the leading record labels globally, to clandestinely acquire talented artists from a diminutive South Korean agency is a disgraceful violation that cannot be overlooked.” He also indicated that while the damage claims start at 20 billion won, this figure will likely increase as the case develops.

The K-pop group FIFTY FIFTY, which debuted as a four-member unit in November 2022, exploded into the international music scene with their hit “Cupid”in February 2023, earning them recognition as a “miracle of a small-agency idol group.”However, by June, the four members sought a legal injunction to terminate their contracts, alleging that ATTRAKT had neglected essential responsibilities, such as providing financial transparency and ensuring the members’ well-being. The court dismissed this injunction in August.

In response to the members’ legal situation, ATTRAKT announced the cessation of the group’s activities in June due to concerns regarding the members’ health, implying the influence of outside entities attempting to induce the members to breach their exclusive agreements with the agency. Warner Music Korea was specifically identified as one of these external influences.

Although the members continued to fight their legal battles, Keena ultimately withdrew her appeal and rejoined ATTRAKT. The agency subsequently introduced three new members to replace those who departed, and they confirmed the group’s comeback in September 2024.

The remaining trio – Saena, Sio, and Aran – ended their contracts with ATTRAKT and entered into new agreements with MASSIVE E&C, part of the IOK group, in September. They have also initiated a lawsuit against ATTRAKT’s CEO Jeon Hong-jun, seeking a settlement amount of approximately 300 million won (around $217,000 USD).

Source: Naver

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