53

31

News

CJ ENM creates 25.3 billion KRW fund to help music industry after 'Produce 101' controversy

AKP STAFF
Posted by jennywill Monday, January 20, 2020

CJ ENM has created their promised fund.

A fund to support the music industry was one of the promises that CJ ENM announced during their apology for the 'Produce 101' series controversy. They will be working with KC Ventures for a fund named 'KC Vivace Investment Union'. CJ ENM will be contributing 25 billion KRW (approximately 21.6 million USD) and KC Ventures will be contributing 300 million KRW (approximately 259,000 USD). The fund will last for 7 years, and will be independent from CJ ENM.

The fund will be used to help artists who do not have much recognition but have high potential, as well as creators in their early stages.

  1. I.O.I
  2. IZ*ONE
  3. Wanna One
  4. X1
  5. PRODUCE X 101
  6. PRODUCE 101
  7. PRODUCE 48
28 18,952 Share 63% Upvoted
 
KpopDagger
KpopDagger1,038 pts Monday, January 20, 2020 2
Monday, January 20, 2020

How about funding the debut of all the fucking groups that could happen with the former contestants.

13 (+15 / -2)
Share

2 more replies

 
NoahL
NoahL2,050 pts Monday, January 20, 2020 2
Monday, January 20, 2020

What's the point when you literally rig every survive music shows? The victims didn't even get to debut at all.

11 (+16 / -5)
Share

2 more replies

SHOW ALL COMMENTS

allkpop in your Inbox

THE TOP 10 STORIES DELIVERED DAILY
Yang Se Chan
Yang Se Chan reveals 12-year battle with thyroid cancer: “I’m still taking medicine”
14 hours ago      15,118
Big Bang, Taeyang, Min Hyo Rin
Min Hyo Rin responds to “Weight gain” comments “Please support me as a mother too”
2 days ago      34,169
MAMAMOO, Solar
MAMAMOO’s Solar unexpectedly announces her enlistment in the military
4 days ago      181,395
Seo In Young
Seo In Young enjoys simple days and honest talk after removing nose implants
1 day ago      6,387
JO1, ME:I
JO1’s Shosei Ohira halts activities after inappropriate relationship with ME:I’s Shizuku despite having a girlfriend
13 hours ago      10,112
EVNNE
EVNNE discussing contract renewal to become a permanent group
14 minutes ago      442
Song Ji Hyo
Song Ji Hyo returns to the big screen with the film 'Home Behind Bars'
41 minutes ago      549
&TEAM
&TEAM reveals their wings in the new concept teasers for the first Korean mini-album 'Back to Life'
1 hour ago      384
misc.
Ryu Philip's sister Park Suzie breaks down in tears "There's nothing to explain about the feud. Please stop bringing it up."
2 hours ago      2,664
Jung Ryeo Won, Lee Jung Eun
'The Woman in the White Car' starring Lee Jung Eun and Jung Ryeo Won garners global attention ahead of premiere
2 hours ago      1,087
BTS, V, Choi Woo Sik, Park Seo Joon, Park Hyung Sik (Hyungsik)
BTS’s V shares full “Wooga Fam” photo on Instagram
7 hours ago      3,281
FIFTY FIFTY
FIFTY FIFTY drops tracklist as new teaser for ‘Too Much Part.1’
5 hours ago      1,113
&TEAM
&TEAM reveals their wings in the new concept teasers for the first Korean mini-album 'Back to Life'
1 hour ago      384
Song Ji Hyo
Song Ji Hyo returns to the big screen with the film 'Home Behind Bars'
41 minutes ago      549
KARD, B.M
KARD's B.M. gives sneak peek of new track "Freak (feat. B.I)" through sampler teaser
4 hours ago      797
New Message

SEND