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Posted by jennywill AKP STAFF Monday, January 20, 2020

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

AKP STAFF

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 16,133 Share 63% Upvoted

12

KpopDagger173 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.

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10

NoahL350 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.

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