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NewJeans vows to ‘not give up’ in reclaiming group’s name after terminating ADOR contract; says THIS about penalty fees
In a turn of events, NewJeans announced they are leaving ADOR. In an emergency press conference, they addressed challenges with using their current group name and more. Read on!
NewJeans has decided to part ways with ADOR. In an emergency press conference, they announced that they would terminate their contract on November 29. They stated that the company failed to protect them, leading to this decision. Apart from the shocking but somewhat expected announcement, they also addressed some pivotal questions regarding the rights of their name and termination fees.
On November 28, NewJeans held an emergency press conference at the Space Share’s Galaxy Hall near Samseong Station in southern Seoul. Following the announcement of contract termination, the members shared their opinions on keeping the group’s name. They revealed that they plan to reclaim it, stating, “Our essence will remain unchanged. We have no intention of giving up the name,” the youngest Hyein said, indicating that they will pursue extreme lengths to secure the rights of ‘NewJeans’.
In addition, they also talked about penalty fees. The girl group still has five years left in their contract with ADOR. Previously, during an injunction hearing, Min Hee Jin’s conversation with two former ADOR deputies was revealed, where they talked about the staggering fees the girl group might have to pay if they decided to terminate their contract with the agency.
However, at the press conference, the quintet firmly said, “We have not violated our exclusive contract and have given our best in all our activities, so we do not need to pay any penalty fees.”
They added that rather HYBE and ADOR should be the ones obliged to pay the fees. According to the previous estimation, the group might have to pay a whopping 620 billion KRW termination fees, with 124 billion KRW estimated for each member.
This amount was determined based on the girl group’s average monthly revenue, which is around 2 billion KRW per head, multiplied by 62 months remaining in their contract with ADOR. Although fans are praising the quintet’s strong statement, whether they will have to pay the staggering penalty or not will now depend on HYBE and ADOR’s next legal decision.
Meanwhile, following this turn of events, all eyes are on NewJeans’ next step amid the uncertainty of their future in K-pop.
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