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<\/td>\n<\/tr>\nFifty Fifty 2023.04.27. (Photo = Provided by Attract) photo@newsis.com *Resale and DB prohibited<\/p>\n<\/tr>\n<\/tbody>\n<\/div>\n<\/div>\n<\/div>\n
Reporter Lee Jae-hoon = Dugiverse, who was in charge of the music project for the K-pop rookie girl group ‘FIFTY FIFTY’, signed a label deal proposed by Warner Music Korea to the team’s agency, Attract CEO Jeon Hong-joon. They insisted again that they had not only approved in advance, but that they had been frequently reported on the progress. <\/p>\n
On the 12th, Dugiverse said, “CEO Hong-joon Jeon asked CEO Seong-il Ahn of Dugibus about attracting investment from shipping companies from overseas. While Seong-il Ahn was looking for a way, CEO Seong-il Ahn delivered the proposal to Warner Music Korea for a label deal to CEO Jeon Hong-joon. , This is the order in which the conversation between Warner Music Korea and CEO Jeon Hong-joon continued.” <\/p>\n
At the same time, Dugibus CEO Ahn Seong-il and CEO Jeon Hong-joon revealed related things, saying that they were actually exchanged smartphone messengers. <\/p>\n
Previously, on the 3rd, Attract released a recording file claiming that it was evidence of CEO Ahn’s attempt to extort the members of Fifty Fifty. The recorded file contains a conversation between Attract CEO Jeon Hong-joon and Warner Music Korea executives on May 9th. An executive at Warner Music Korea told CEO Jeon, “I made an offer of 20 billion won to CEO Ahn Seong-il for a buyout before.” In relation to the transcript, Attract claimed, “CEO Ahn Seong-il arbitrarily proceeded with the buyout of Fifty Fifty without the approval of Attract CEO Jeon Hong-joon.” <\/p>\n
However, according to the timeline of conversations on the smartphone messenger released by Dugibus that day, on December 19 last year, CEO Jeon inquired about attracting investments such as advance payments from the US to solve the lack of funds. <\/p>\n
In this regard, Dugiverse talked about a label deal from February 22nd to March of this year. On April 10, we discussed the label system with Warner Music Global and Warner Music Korea.<\/p>\n
However, on April 22, CEO Jeon hoped for an advance distribution investment and direct listing method, rather than a label deal. That’s why Dugibus insists that there is no further discussion about it. <\/p>\n
The label deal is a structure in which an artist belongs to a label of a global direct distribution company and uses the direct distribution company’s financial power and infrastructure to achieve coexistence. Global direct distributors include Warner Music Korea, Universal Music Korea, and Sony Music Korea. Advance distribution investment is a way for artists’ agencies to utilize the funds of distributors. The agency can use this fund relatively freely, but it has a clear obligation to repay.<\/p>\n
Along with this, Dugiverse also claimed that “CEO Ahn Seong-il suffered from extreme stress and pain during the production of Fifty Fifty’s album.” “CEO Jeon Hong-joon did not put the advance payment received from the distributor Interpark into the production cost on time, and the funds were not executed at the promised time, so the production cost payment to the partner company was overdue or in arrears, and eventually the debut was delayed.”
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![\"(Seoul=Newsis)](\"https:\/\/realkpop.com\/wp-content\/uploads\/2023\/07\/NISI20230712_0001313448_web.jpg\")
<\/td>\n<\/tr>\n(Seoul=Newsis) The timeline of the conversation between Dugibus CEO Ahn Seong-il and Attract CEO Jeon Hong-joon via smartphone messenger. 2023.07.12. (Photo = Provided by Dugibus) photo@newsis.com *Resale and DB prohibited<\/p>\n<\/tr>\n<\/tbody>\n<\/div>\n<\/div>\n<\/div>\n
It is said that the label deal was delivered to Warner Music Korea for efficiency such as album production. The expression ‘buyout’ from CEO Jeon’s transcript refers to equity acquisition investment, which is a type of label deal. Ahn said he only used the expression label deal, but he never used the word buyout, Dougie Buss explained. “CEO Hong-joon Jeon has continuously asked CEO Seong-il Ahn to mediate the investment attraction, so the deal with the label was not sudden,” the defense said. <\/p>\n
Dugiverse said, “Unlike the early days when we discussed overseas investment or label deals for stable operation, after the success of Fifty Fifty Cupid’s album in April of this year, CEO Jeon Hong-joon changed his stance and rejected label deals, and only pursued an advance distribution investment method.” After that, Warner Music Korea also turned to pre-paid distribution investment and discussed with CEO Jeon Hong-joon,” he emphasized. <\/p>\n
He added, “The content that he said he had not heard anything about the label deal when he released the transcript with Warner Music Korea on July 3 is false, and the claim that Ahn Seong-il proceeded alone without the approval of CEO Jeon Hong-joon is also false.” .<\/p>\n
Attract pointed out CEO Ahn as being behind the recent attempted extortion of Fifty Fifty. At the same time, on the 26th of last month, Attract sent a certificate of contents to Warner Music Korea. On the same day, Warner Music Korea explained that the related content was groundless.<\/p>\n
In addition, on the 27th of the same month, CEO Jeon filed a complaint with the Gangnam Police Station in Seoul on charges of obstruction of business, damage to electronic records, fraud and breach of duty against CEO Ahn and three others. On the other hand, Dugiverse responded by saying, “We will take legal action against the false accusation against CEO Jeon Hong-joon and the company’s representative at Attract and the continuous spread of false information through the media.”<\/p>\n
In the midst of this, the four members of Fifty Fifty, including Kina (20, main rapper), Saena (19, rhythm and main dancer), Shio (18, main vocalist), and Aran (18, lead vocalist), through a legal representative on the 19th of last month, attracted. filed an application for a temporary injunction to suspend the validity of the exclusive contract with the Seoul Central District Court. Both sides are fighting a legal battle.<\/p>\n
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