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CJ ENM creates 25.3 billion KRW fund to help music industry after 'Produce 101' controversy

AKP STAFF
Posted by jennywill Monday, January 20, 2020

CJ ENM has created their promised fund.

A fund to support the music industry was one of the promises that CJ ENM announced during their apology for the 'Produce 101' series controversy. They will be working with KC Ventures for a fund named 'KC Vivace Investment Union'. CJ ENM will be contributing 25 billion KRW (approximately 21.6 million USD) and KC Ventures will be contributing 300 million KRW (approximately 259,000 USD). The fund will last for 7 years, and will be independent from CJ ENM.

The fund will be used to help artists who do not have much recognition but have high potential, as well as creators in their early stages.

  1. IOI
  2. IZ*ONE
  3. Wanna One
  4. X1
  5. PRODUCE X 101
  6. PRODUCE 101
  7. PRODUCE 48
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    KpopDagger
    KpopDagger1,037 pts Monday, January 20, 2020 2
    Monday, January 20, 2020

    How about funding the debut of all the fucking groups that could happen with the former contestants.

    13 (+15 / -2)
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    NoahL
    NoahL2,050 pts Monday, January 20, 2020 2
    Monday, January 20, 2020

    What's the point when you literally rig every survive music shows? The victims didn't even get to debut at all.

    11 (+16 / -5)
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