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KMFexpresses grave concern overNewJeans contract termination controversy.
Until termination is finalized, the contracts validity is protected.
Therefore, NewJeans claims of contract termination are groundless.
If contracts can be terminated simply through declarations, how can the validity of exclusive contracts be guaranteed?
Who would invest in such uncertain agreements?
KMF concluded by emphasizing the importance of the invest first, recover later model in the entertainment industry.
Current laws fail to account for the position of agencies that make significant investments in their artists.
Approaches like the one taken by NewJeans could destabilize the foundation of our industry, it said.
We sincerely hope the situation does not escalate further, it added.
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