CNR Media, the former agency of SS501's Park Jung Min, has objected to the court ruling that terminated their exclusive contract with Park. They appealed this decision, arguing that Park Jung Min had requested an unreasonably high income.
CNR Media reported through a press release on August 8th, "In order to sign with Park Jung Min, we paid a deposit of 400 million KRW (~$354,000 USD) and pre-paid an additional 150 million KRW (~$133,000 USD) in 2011. These are extremely good contract conditions for any celebrity within the same rank as Park."
They continued, "As he proceeded with his tax reports at the end of 2011, Park Jung Min requested approximately 80% of the company's total revenue, which comes to more than 700 million KRW (~$621,000 USD). Subtracting all costs, the company calculated his total profit to be $266,500 USD, a number much less than what he had asked for. The unreasonable amount of earnings he has demanded without good reason is a number calculated unilaterally, and is his way of terminating a contract with the company."
However, Park Jung Min's agency stated, "There is no point in taking action [to respond]. CNR Media has earned an immense profit from Park Jung Min's activities in various countries, however, there were no benefits in it for Park Jung Min. All the more, even when there was no continued support, the company pushed ahead with more functions and events that Park Jung Min himself had to find stylists and other help for."
Meanwhile, Park Jung Min stated last April, "Aside from the 150 million Won I received last year, the company has not been paying my income properly. I am asking to have my contract terminated," and the court accepted his provisional disposition.
Source & Image : Kukimedia via Nate
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Posted byFriday, August 10, 2012
CNR Media argues that Park Jung Min's income demands were 'unreasonable'
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