KMF Raises Concerns over NewJeans-ADOR Conflict

The Korea Management Federation (KMF) has voiced serious concerns over the ongoing turmoil surrounding the termination of NewJeans' contract with their agency, ADOR. On December 3rd, KST, the federation issued a statement emphasizing the detrimental implications this conflict holds for the cultural and entertainment industry.

Implications for the Industry

KMF expressed its apprehensions regarding 'the recent intensification of disputes between ADOR and NewJeans,' highlighting the negative repercussions that this discord could have for the entire sector. The federation stated, 'The issues surrounding the group and their contracts have fostered disillusionment among industry workers, and we aim for a resolution that propels our cultural and entertainment industry forward.'

Trust in Artist-Agency Relationships

Underscoring the importance of trust in artist-agency relationships, KMF remarked, 'Contracts between artists and agencies are built on decades of trust and consideration.' Their statement criticized the portrayal of NewJeans' actions, suggesting a lack of genuine intent to honor the contract from the beginning. KMF firmly rejected NewJeans' claims of contract termination, arguing that Korean law prioritizes the protection of existing contracts and asserting that 'the validity of a contract remains intact until termination is legally finalized.'

Collaborative Framework

KMF pointed out the collaborative framework of artist-agency relationships, stating that these partnerships are enduring and should not be treated as straightforward employment agreements. They emphasized that both artists and agencies have shared responsibilities in nurturing the artist's career.

Cautions Against Unilateral Actions

The federation cautioned that if such disputes are permitted to be resolved through unilateral actions, it could have catastrophic effects on the industry. 'If contracts can simply be terminated by one party’s announcement, how can investors trust the stability of exclusive agreements?' they questioned, urging all parties to proceed with caution.

Invest First, Recover Later Principle

In a further appeal, KMF stressed the significance of the 'invest first, recover later' principle, which underscores the necessity of agencies to recover their investments over time. They warned that NewJeans’ approach might jeopardize the very fabric of the industry. The federation strongly urged NewJeans to reconsider their stance and engage in constructive dialogue with ADOR to prevent further escalation.

Call for Policy Revisions

As part of a broader initiative, KMF also called upon government agencies and industry stakeholders to revisit policies that would foster the sustained growth and stability of the cultural and entertainment sector. They pledged to monitor the situation closely and take action to support the health of the industry as it navigates this challenging dispute.

Context of the Dispute

NewJeans had previously made the shocking announcement of their contract termination during an unexpected press conference on November 28th, while ADOR has steadfastly maintained that the existing contract remains legally binding until 2029.

Conclusion

This unfolding drama raises critical questions about contract integrity and trust in the vibrant world of K-pop, as fans and industry insiders alike hold their breath, hoping for a swift and equitable resolution.