Hello, this is ADOR Entertainment.
On the 3rd of December, we filed a lawsuit for confirmation of the validity of the exclusive contract at the Seoul Central District Court to receive indisputable legal clarification that the exclusive contract with our artist NewJeans is valid and remains in effect.
Although we did not wish for the dispute with our affiliated artists to be resolved through a legal ruling, we deemed it necessary and inevitable to confirm to our artists and various stakeholders that an exclusive contract between an artist and their agency is not so lightly terminated by the unilateral assertions of one party. Above all, we judged that an indisputable ruling by the courts was necessary in order to protect the foundations of the KPOP and popular culture industries, which have grown on the basis of a healthy relationship of trust between artist and agency.
It is with heavy hearts that we deliver this news. However, given that our artists misunderstand that their exclusive contracts have been legally terminated, we thought this an appropriate measure to prevent them from engaging in activities in violation of their contracts and causing confusion and damage to others in the industry both domestically and internationally.
The KPOP of today was developed through the synergies of two ingredients: the talent and ceaseless effort of the artist and the wholehearted investment and trust of the company with the know-how. The long-term commitment made by the company in advance, in a situation where there is no guarantee of success is a necessary and unavoidable aspect of the popular culture, and especially the KPOP industries. This antecedent support is offered on the hope and belief that both company and artist will share in growth during a set period of time, and an exclusive contract is the mutual understanding and agreement of the aforementioned premise .
If this basic understanding is not protected, the efforts of the company, which has borne the burden of uncertainty and shown full confidence through its investment, are reduced to nothing, and the company will have suffered a total loss. In other words, there will be a loss of faith in the systematic support, investment and the advancement of this system. More than anything else, we are concerned that the beneficial cycle which has so rapidly advanced the KPOP industry through the sweat and dreams of countless individuals will be broken.
Even now, we have not altered our position that we mean to continue in partnership with NewJeans. Regardless of our seeking of a legal ruling concerning the validity of the exclusive contract, we believe that there is an absolute need for thorough and genuine discussions with our artists. Though we have not yet had the chance to communicate with our artists despite the repeated and earnest requests by employees and executives at ADOR, we will continue to work ceaselessly to resolve the unnecessary misunderstandings which have accumulated between our artists and our agency. We will do our utmost to repay the fans who have loved NewJeans’ music with further enriching activities. We kindly ask for your support and encouragement so that ADOR and NewJeans can wisely overcome this current situation.”
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