Concerns have been raised about the ruling threatening the stability and trust within the K-pop industry.
The association urged the court to consider the realities of the industry in future proceedings.
[TV Daily Reporter Kim Ji-hyun] The Korean Entertainment Producers Association has officially expressed concerns regarding the first-instance verdict related to the shareholders' agreement between HYBE and former CEO Min Hee-jin, highlighting potential setbacks for the entertainment industry. In a statement released on the 12th, the association noted their worry that the verdict could sow distrust in the industry, particularly as tempering allegations arise. They emphasized that the ruling conveys a dangerous message, potentially providing a 'get-out-of-jail-free card' for those involved in tempering. Furthermore, they warned that the breakdown of trust in the production environment could have negative repercussions throughout the broader cultural industry, risking the competitiveness of K-pop on a global scale. The association urged the court to consider the realities of the industry in future procedures.
This verdict poses a significant risk of confusion within the K-pop industry. Tampering ultimately undermines the trust between artists and producers, which can negatively affect relationships with fans. Furthermore, the ruling could convey a message that contracts can sustain under a 'subdued' environment, possibly hindering the influx of new talent and investment.
Notably, this incident highlights the complex context behind K-pop's remarkable successes. Artists emerge through the collaboration of numerous production teams anchored in solid trust relationships. It must be viewed not merely as a legal dispute but as a wake-up call regarding the sustainability of the K-pop industry.
In conclusion, the case involving former CEO Min Hee-jin is a serious matter capable of disrupting the foundations of the K-pop industry, where no one is exempt. The appellate court must understand the unique characteristics of the K-pop sector and establish legal standards to restore trust so that creative environments can nurture the emergence of new artists.
This article is KOSTAR’s reinterpretation of a story originally reported by TVDaily.
Photo: TVDaily
