On the evening of November 28, NewJeans (Minji, Hanni, Danielle, Haerin and Hyein) held an urgent press conference at the Space Share Samseong Station Center in Gangnam, Seoul regarding the termination of their exclusive contract.
At this conference, NewJeans announced that they will be terminating their contract with ADOR, stating that the agency has no intention or ability to protect them, before adding that they will officially leave the company at 0am on November 29th.
“It’s difficult to maintain the exclusive contract when our trust has been betrayed,” insisted the girls in the group.
With 5 years remaining on the contract, industry estimates suggest that if NewJeans were to terminate the exclusive contract, the penalty, calculated as the expected profits the agency would earn during the remaining period, could amount to around KRW 500 billion (about KRW 380 million of dollars).
“We really hope to be able to release new music for the bunnies next year as soon as possible and we really hope to have the opportunity to meet you guys from all over the world..”
daily reminder: newjeans will not disband but will debut with a better company! NJ NEVER D!E pic.twitter.com/MatBzJ7FoO
— 🐰 (@_hannibunch) November 28, 2024
Addressing this, Haerin stated, “I have seen several articles on the penalty clause. We have never violated the exclusivity contract.”
He further added“We did our best in our activities. We see no reason to pay any penalties. In fact, it was ADOR and HYBE who violated the contract, causing this situation. The responsibility lies with ADOR and HYBE.”
Early on November 13, NewJeans sent a formal notification to ADOR using the full legal names of its five members. The notice required the agency to remedy the “serious violations of the exclusivity agreement” within 14 days from the date of receipt of the letter. The group said failure to comply would result in the termination of their exclusive contract.
In the notification, NewJeans highlighted the complaints, including HYBE’s alleged internal decision to “scrap NewJeans and start over,” and demanded that the agency take all necessary actions as a management company.
They also called for the return of former ADOR CEO Min Hee-jin, a formal apology from a manager who allegedly told Hanni to “just ignore him,” and the resolution of situations in which NewJeans’ achievements had been relatively downplayed at due to “push-out tactics”. .” The deadline for the agency to respond to these requests was November 28.
Although ADOR released an official statement regarding Hanni’s case on November 27, it appears that the female idol was unhappy with the lackluster response.
Source: Daum
