In a recent legal development, Attrakt, a South Korean entertainment company, has filed a lawsuit against three former members of the K-Pop group Fifty Fifty—Saena, Aran, and Sio—seeking 13 billion won in damages for breaching their contract.
This legal battle highlights the challenges faced by entertainment companies and the intricate dynamics within the K-pop industry. Additionally, Attrakt has proactively introduced the "Fifty Fifty Act" aimed at safeguarding the rights of small-sized companies in the highly competitive realm of K-pop.
Fifty Fifty, an emerging K-pop sensation under Attrakt, faced a significant setback when three members—Saena, Aran, and Sio—chose to terminate their contracts prematurely.
Attrakt alleges contractual breaches by the members, resulting in financial and reputational harm. The filed lawsuit seeks compensation of 13 billion won, illustrating the extent of the damages incurred.
#Aran, #Sio and #Saena (former #FIFTYFIFTY members) and their parents are being sued for 13 billion wons (~10 million USD) by ATTRAKT for breaching their exclusive contracts.
— GLOBALMYEON (@globalmyeon) December 19, 2023
The “Fifty Fifty Act” is also being introduced to protect the rights of small/medium sized companies. pic.twitter.com/b1R4iuFy0J
Fifty Fifty, initially comprising Keena, Saena, Aran, and Sio, debuted in 2022 with their single album "The Beginning: Cupid" and its music video released on February 24, gaining immense popularity online.
They also applied for trademarks related to the group's name and their stage names. Attrakt accused Warner Music Korea and Ahn Sung-il, CEO of The Givers, of attempting to induce contract violation.
Criminal charges were filed by Attrakt against Ahn and three others for fraud, breach of duty, and obstruction of business.
Attrakt not only filed a lawsuit against the former members but also introduced the "Fifty Fifty Act" to protect small-sized companies in the competitive K-pop industry.
Attrakt's lawsuit against the ex-Fifty Fifty members and the introduction of the Fifty Fifty Act underscore the legal complexities within the entertainment industry. This initiative reflects Attrakt's commitment to enhancing industry practices and safeguarding the rights of smaller companies.