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. IOI
  2. IZ*ONE
  3. Wanna One
  4. X1
  5. PRODUCE X 101
  6. PRODUCE 101
  7. PRODUCE 48
28 18,895 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
The Boyz
Former The Boyz member Ju Hak Nyeon posts handwritten letter and says he was not involved in prostitution or any illegal activity
5 hours ago      9,879
The Boyz
The Boyz members leave messages to fans following Ju Hak Nyeon's controversy
4 hours ago      7,718
Jungkook, Kim Chung Ha, Kim Ji Won
8 things you should know before moving to South Korea
3 hours ago      3,066
NCT, Taeil
K-netizens react to former NCT member Taeil seeking leniency after prosecution seeks 7-year prison sentence
6 hours ago      9,675
The Boyz
K-netizens express shock over former The Boyz member Ju Hak Nyeon's prostitution allegations
8 hours ago      12,632
Park Bo Gum, Jun (Lee Jun Young)
Park Bo Gum and Lee Jun Young to release official collab track "If It Were Me (Piano by Park Bo Gum)"
54 minutes ago      535
misc., Ra Mi Ran, Yoo Ah In
'Hi-Five' hosts special screening event honoring organ donor families
1 hour ago      814
Jung Woo
'Dirty Money' rises to no. 1 on Netflix Korea despite initial box office flop
2 hours ago      1,999
Dex, misc.
Dex to make a special appearance on 'Bloodhounds' season 2
3 hours ago      1,704
Jungkook, Kim Chung Ha, Kim Ji Won
8 things you should know before moving to South Korea
3 hours ago      3,066
ILLIT
ILLIT talks 3rd mini-album ‘bomb’ and their first impressions on “Do The Dance”
4 hours ago      1,484
misc.
Japanese music star MIYAVI cast in Korean drama
7 hours ago      3,444
KATSEYE
KATSEYE stars in an intense soap opera in second music video teaser for "Gabriela"
6 hours ago      1,999
fromis_9
fromis_9 continues unveiling concept photos for 'From Our 20's'
7 hours ago      1,540
The Boyz
Former The Boyz member Ju Hak Nyeon posts handwritten letter and says he was not involved in prostitution or any illegal activity
5 hours ago      9,879
New Message

SEND