FIFTY FIFTY's journey to fame began with the explosive popularity of their viral track "Cupid," catapulting them to the center of attention in the K-pop industry. However, their recent lawsuit against their agency, ATTRAKT, has taken the spotlight to a whole new level, making it one of the most significant scandals to hit the industry in this generation.
The unfolding controversy surrounding the group has gripped fans and the media, leaving everyone eagerly awaiting this high-stakes legal battle's outcome and potential ramifications.
According to the latest update, the incident has entered a new phase of mediation referral, potentially paving the way for a dramatic agreement.
Unfortunately, entertainment reporter turned YouTuber Lee Jin Ho thinks otherwise. Lee Jin Ho expressed doubts about the potential success of reaching an agreement through mediation during his YouTube video posted on August 2.
He emphasized that if there had been a willingness from FIFTY FIFTY or their parents to have a prior conversation with ATTRAKT, there might have been a chance of resolution. Unfortunately, such attempts were not made.
He also highlighted the fact that the mediation that has been referred by the court entails only one member from both parties to meet and discuss. Therefore, there will be no significant meaning to the meeting since there is a high chance that a family member of one of the FIFTY FIFTY members would be the one at the mediation meeting.
Regarding other crucial aspects to consider - pointed out by Lee Jin Ho - the previously scheduled "golden time" that CEO Jun Hong Joon set for August 5 is now prone to alterations due to the mediation referral decision, leading to a week's delay.
Additionally, the court's ongoing vacation adds another variable, inevitably extending the timeline by an extra week. This extension effectively provides approximately two weeks of additional time, which can prove instrumental in resolving if all parties involved demonstrate a genuine willingness to find common ground and reach an agreement.
By the end of the video, Lee Jin Ho revealed a surprising piece of information. He revealed that The Givers CEO Ahn Sung Il and officials from SBS's current affairs program, 'Unanswered Questions,' had a meeting. The content of this meeting, particularly CEO Ahn Seong-il's statements during the encounter, is of significant interest and speculation.
Lee Jin Ho revealed, "It is said that CEO Ahn Sung Il and 'Unanswered Questions' had met. I am aware Ahn Sung Il himself appeared in front of the camera for 'Unanswered Questions.' So, all interest is focused on what CEO Ahn Sung Il shared with the program."
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[This is how the drama presumably started, waiting for the court to give the final verdict.]
“Interpark gave an investment of 9 billion won to CEO Jeon in August 2020. According to Attrakt, they spent 6 billion won on FIFTY FIFTY. However, in reality, only 4 billion was used, and the remaining 2 billion was another investment. Because of this, FIFTY FIFTY members and CEO Ahn Sung Il raised the suspicion that CEO Jeon had embezzled the fund.”
“From the experience of CEO Jeon, who had created several groups and failed many times before, he knew how to spend the money. If he received the full 6 billion won at once, he might spend all of it, and end up lacking money for album production”
“CEO Jeon decided to receive only 4 billion won first and take the remaining 2 billion won later when it was absolutely necessary for the final stage of the album production. He actually spent the first 4 billion won on covering accommodations, lessons, and other expenses for the members, and then received 2 billion won to produce two albums. There was only a slight delay in the process, but Ahn Sung Il and the members suspected that CEO Jeon betrayed them”.
~ Lee Jin Ho
[News confirmed in Korea but haven’t made it international. Maybe because is not technically Fifty Fifty related]
—Kyobo invested 10 billion won to “The Givers” last year (September, the plan was The Giver must go public within 6 years. If they don’t they have to payback 7.6 billion won). Maybe The Givers were like “we don’t need ATTRAKT anymore let’s poach the girls! With the Kyobo investment we can pay the penalties”.
—Sung Il has poach an artist before, her name is “Son Seung-yeon”. she also sue her agency (Fortune Ent) for the same reasons Fifty Fifty is doing. The judge dismiss the lawsuit. a year later she signed with “24th Street” Sung Il being the CEO and later they establish “The Givers”.
—Like Kyobo to The Givers, 24th Street was massively invest by a “Fortunate Retailer”. The CEO is known as Park Shi-oh. Supposedly the plan was to poach Seung-Yeon. He later joined the entertainment business and his headquarters are same as 24th Street. One of the members stage name resemblance Shi-Oh name, Yup its Sio. People think they might be related or Sung Il is giving omege, I mean he helped finance 24th Street.
—Sung Il was also a director of an app call Vezt Korea. Pretty much it was a Ponzi Scheme. In this app you invest to own copyright royalties of music. It was commercialized “you could own Maroon5 songs”. The app was close and the ppl who invest lost their money. (This event happened after 24th Street.)
[i gather this information from articles specifically Dispatch and people from Korea. they could be wrong and I’m waiting for the court’s final verdict.]
[Jessica Jung wrote in her book how the parents were heavily involved in the girls career. All this wrong doing was by the Fifty Fifty’s parents and The Givers, the girls were gaslighted and peer pressure]
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