“Honestly, I would listen to the producer who made me a star regardless of whether she is right or wrong if I could receive 5.2 billion won. It’s just what people do.” (Music planner A)
“Actually, they would be able to receive 5.2 billion won as salary because they used HYBE’s investment, human resources, and platform. Imagine that Min had to hire employees and cast trainees from the street, feed them, give them places to sleep, and train them. Can she really give them 5.2 billion won in such a situation? In order for the company to go back to work, it is necessary to hire new trainees and train them. NewJeans could only make such achievements thanks to HYBE’s support without having to pay such expenses. I don’t think the parents and the kids know what’s really going on.” (Song planner B)
Most K-pop officials shared, “We acknowledge former CEO Min’s outstanding production capabilities that put NewJeans on the top, but they have crossed the line to ask the company to bring Min back (as CEO),” adding, “It is highly likely that it will spread to a lawsuit, claiming that their trust in the parent company will be broken by using the feelings of the fandom through the issue of NewJeans’ “bully controversy.”
A K-pop insider noted, “The new CEO Kim Joo-young is a management expert who was in charge of HR,” adding, “It is not right for Min, who also worked as a producer and manager, to refer to Kim as a stepmother for putting forward the ‘Mom’ concept. In addition, a company’s CEO referring to herself as a ‘Mom’ to the members is an act of gaslighting. If an employee at another K-pop agency had such a close relationship with the members, it could lead to their dismissal,” while also mentioning that “Chairman Bang Si-hyuk also refused to be called the ‘father of BTS.’”
K-pop officials cited that the incident stems from the strengthened trust between the members, their parents, and former CEO Min, as the members received 5.2 billion won each due to “NewJeans’ Miracle.” They pointed out that HYBE’s support for earning such a substantial amount of money is now causing friction.
One K-pop official acknowledged Min’s abilities, noting, “It is Lee Soo-man, the former founder of SM Entertainment, who made the best use of her ability,” adding, “However, during her time at SM, Lee Soo-man made more than 80% of the decisions. Her wages were also equivalent to those of ordinary employees.”
This official indicated that HYBE’s Chairman Bang Si-hyuk, who provided Min with human and material resources, including unconventional wages and incentives, has become perceived as a “Stupid Guy”recently.
Furthermore, there is concern regarding internal employees who failed to anticipate the situation and protect the anxious members following Min’s departure, alongside HYBE’s management, which has not effectively addressed these challenges.
As the members of NewJeans express discontent towards their management company, there is a real possibility that the “NewJeans’ Miracle” could disintegrate in the future.
They set a deadline of the 25th, fourteen days later, to the management, interpreted as the usual timeframe to address and rectify complaints regarding the cancellation of their exclusive contract. Music officials believe that the members, despite their lack of legal expertise, made such statements after guidance from former CEO Min. However, the members assert that this plan was formulated voluntarily, as told in their video.
If NewJeans enters an exclusive contract dispute with the management, they could incur a penalty of at least 300 billion won. The Fair Trade Commission’s standards for exclusive contracts stipulate penalties based on the average monthly sales over two years multiplied by the remaining months in the contract.
Last year, ADOR’s sales totaled KRW 110.3 billion, suggesting that the penalty could exceed KRW 300 billion if the members file a lawsuit.
Nevertheless, considering the global popularity of K-pop and former CEO Min’s standing, there are suggestions that they might secure investments from overseas companies despite the penalties.
An official projected, “Former CEO Min has already established herself as a renowned producer following a press conference in April,” suggesting that the members could terminate their exclusive contract with HYBE and pursue opportunities in international markets alongside Min instead of domestically.
Another official stated, “Ultimately, the NewJeans miracle that the public once cherished has disintegrated.”
Source: daum
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