On the morning of February 27 KST, spokespersons of 5 associations representing South Korea's popular music industry attended a press conference at the JW Marriott Hotel in Seoul, titled, "Let's Keep A Promise: Without Record Producers, There Is No K-Pop."
The press conference was jointedly hosted by the Korea Management Federation (KMF), the Korea Entertainment Producer's Association (KEPA), the Record Label Industry Association of Korea (LIAK), the Recording Industry Association of Korea (RIAK), and the Korea Music Content Association (KMCA).
On this day, the spokespersons of the the 5 host associations addressed the ongoing legal dispute between HYBE Labels/ADOR and girl group NJZ (NewJeans) and their producer, Min Hee Jin.
Choi Kwang Ho, secretary-general of the Korea Music Content Association, began, "We have gathered today in the hopes of discussing the sustainable development of the popular music industry. If we do not make an effort to keep promises, this industry cannot progress in a sustainable manner."
Choi continued, "The foundation of Korea's popular music industry is the exclusive contract signed between the production label and the artist. In this relationship, the label and the artist are not employer and employee. They are business partners. The exclusive contract, which establishes a bond of connection between the two, is the very foundation of the popular music industry. However, recently, this foundation is being threatened."
The KMCA representative then added on, "There are even some agencies who are supporting these activities which threaten to unravel the firm stitches that hold this industry together, as well as fans who encourage their artists to violate their exclusive contracts. Such voices threaten the positions of record labels, which have thus far acted as crucial agents in the industry's success and longevity."
Finally, Choi stated, "It is now time to seriously considering a thorough revision of the exclusive contract so that it properly serves its purpose in the contemporary age and contributes to the popular music industry's sustainable future."
Additionally, addressing the ongoing legal dispute between HYBE Labels/ADOR and NJZ, Choi Kwang Ho claimed, "Legal disputes are bound to occur in any industry. The key to such disputes is for the parties involved to keep their promises and to abide by existing rules and regulations. Should legal disputes arise, those involved must submit to preexisting legal procedures. Until the law decides which party's claims are valid, a dispute is not settled and no one can simply determine that an exclusive contract is invalid."
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