On December 4, IST Entertainment addressed allegations regarding THE BOYZ’s trademark rights, clarifying that all 11 members had been granted free usage rights for any group, unit or individual activity.
The company also terminated a member’s contract early to ease his transition to a new agency. IST has denied accusations of asking for excessive fees or making unreasonable demands, stressing its openness to proposals and focusing on a smooth transition.
ONEHUNDRED, THE BOYZ’s new agency, previously said that IST’s trading conditions prevented the group from maintaining their brand, but reaffirmed their commitment to the group’s future with a new brand.
THE BOYZ will officially restart under the leadership of ONEHUNDRED, led by MC Mong, after their contract with IST expires on December 5th.
Full statement from IST Entertainment:
Hi, I’m IST Entertainment.
We regret the spread of inaccurate information regarding the brand and would like to clarify the matter.
Contrary to what has been reported, we have decided to grant all 11 members of THE BOYZ the right to use the brand free of charge and have already communicated this to the members. Furthermore, the brand can be used freely for any business, including unit or individual projects, as agreed by all 11 members.
We have also agreed to terminate the exclusive contract early for a member, whose contract still remained for six months, to support his new agency business and we have already informed the member of this decision.
Our intention to grant free usage rights to the brand to the members themselves, rather than to a new agency, was based on our consideration for the longevity of the team and the seamless interaction between the members and their fans.
We believed that providing free usage rights directly to the “members themselves” was the best decision to support the future of THE BOYZ, a team deeply loved by the public, and to ensure unhindered connections with their fans.
Reports that we charged excessive brand fees or made unreasonable demands on the new company are also not true. Instead, we remained open to various proposals regarding the brand and engaged only in preliminary and standard discussions to ensure a smooth transition.
Although our time with THE BOYZ has come to an end, we promise to support their future endeavors and sincerely root for their continued success.
Source: Daum
