On December 4, a news media outlet stated that the negotiations between OneHundred Entertainment, the new agency of The Boyz, and their former agency, IST Entertainment, over trademark rights to the group’s name have failed.

According to TenAsia, initial reports revealed that IST demanded tens of billions of KRW for the trademark. When OneHundred declined the financial terms, IST reportedly proposed additional restrictive conditions, such as limits on The Boyz's music activities. These demands were deemed unacceptable by OneHundred, leading to the collapse of negotiations.

Despite the setback, OneHundred Entertainment has announced plans for the group to continue under alternative names, such as "The Boys" or "The New Boyz," as they move forward.

However, IST Entertainment released a statement the same day explaining that they had granted The Boyz rights to use the group name. The agency stated, "We would like to express our regret regarding recent misinformation about trademark rights and aim to clarify the facts. Contrary to what has been reported, we have decided to provide the 'The Boyz' trademark rights to all 11 group members without cost and have already communicated this decision to them."

The label continued, "Furthermore, we intended to allow the trademark to be used free of charge for any activities agreed upon by all 11 members, including unit or individual activities."

Not only that IST Entertainment revealed that they have decided to terminate the contracts of the members with contracts that have not expired yet. The agency revealed, "Additionally, for the one member who still has approximately six months left on their exclusive contract, we have expressed our intention to terminate the contract early, regardless of the remaining term, in support of their activities under their new agency."

Below is IST Entertainment's full statement:

"Hello, this is IST ENTERTAINMENT.

We would like to express our regret regarding recent misinformation about trademark rights and aim to clarify the facts.

Contrary to what has been reported, we have decided to provide the “The Boyz” trademark rights for free to all 11 members of the group and have already communicated this decision to them.

Furthermore, we intended to allow the trademark to be used free of charge for any activities agreed upon by all 11 members, including unit or individual activities.

Additionally, for the one member who still has approximately six months left on their exclusive contract, we have expressed our intention to terminate the contract early, regardless of the remaining term, in support of their activities under their new agency.

Our decision to grant the free use of the trademark directly to the members, rather than their new agency, was made to facilitate deeper and smoother connections between the members and their fans and support their ongoing activities.

We believe that offering the rights directly to the “The Boyz” members is the most appropriate way to support the group's longevity and ensure seamless interactions with their fans, given the immense love and support the group has received from the public.

The claims that we demanded "excessive fees for the trademark" or made "unreasonable demands beyond industry norms to the new agency" are entirely untrue. On the contrary, we have maintained an open stance regarding the trademark and have been waiting for various proposals. The discussions we have had were fundamental and within the scope of standard practices for a smooth transition process.

Although our relationship with The Boyz has come to an unfortunate end, we promise to do everything we can to ensure their future activities proceed smoothly, and we sincerely support them in their journey ahead."

Following the latest statement, fans gathered in a popular online community to express anger and commented: 

"Wow, so crazy. Thank you, IST."

"It’s unfortunate that the former agency seems to have done everything to accommodate and send the group off in the best way possible, yet they’re being criticized by fans because of media manipulation from the new agency."

"What right does OneHundred, a company that hasn’t contributed even 0.1% to the The Boyz brand, have to demand the transfer of trademark rights? If I were IST, I wouldn’t give it to them either."

"Honestly, IST took great care of The Boyz. If they end things like this, it would be infuriating. From their trainee days before debut, they were given plenty of meal allowances, and even after debut, the company wasn’t stingy. The settlement terms and working conditions were always adjusted in favor of *The Boyz*. This situation is just ridiculous."

"Seriously, they’re even letting them terminate contracts early."

"As a fan, this is so frustrating… Ugh."

"MC Mong’s company is shady."

"IST truly did their best."

"This is just absurd. That company is ridiculous."

"MC Mong’s agency always manipulates the media in strange ways. IST genuinely tried their best."

"I already dislike that company even before they’ve fully started."

"Even in that article, it mentioned things like how one member supposedly cried, clearly presenting only OneHundred’s perspective. That’s why I can’t trust this company."

SEE ALSO: The Boyz faces losing group name amid trademark dispute