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Posted by Sophie-Ha Friday, July 14, 2023

Industry experts say FIFTY FIFTY will unlikely retract the lawsuit against ATTRAKT because the members firmly believe they will win

AKP STAFF

FIFTY FIFTY, known for their viral hit "Cupid," is embroiled in a controversy involving a person who allegedly approached the members in an attempt to turn them against their agency, ATTRAKT

According to reports, the members decided to sever ties with the agency after hearing that the investment made to the agency, ATTRAKT, had become the members' debt. The investing company and the agency have denied these claims, stating that investment money cannot be considered the members' debt. Nevertheless, the members are confident in their case, and it seems that this issue could become a major focal point in the upcoming trial.

The investment in question refers to an advance payment received from Interpark Music during the days when Star Crew ENT, the predecessor of ATTRAKT, was managing FIFTY FIFTY. Interpark Music signed an advance payment distribution contract with Star Crew ENT and invested 9 billion KRW in advance. In court, FIFTY FIFTY argued that out of the 9 billion KRW advance payment, 6 billion KRW was used for investing in their music, and the resulting revenue was paid to Star Crew ENT, not ATTRAKT. 

Consequently, they argue that Star Crew ENT, the recipient of the advance payment, should bear the debt, and it is an unjust arrangement for FIFTY FIFTY to shoulder the burden. The members requested specific settlement details to verify these claims, but ATTRAKT failed to provide accurate and detailed information, which has damaged the trust between the parties involved.

However, Interpark Music, the actual investor, has stated that the advance payment contract was made before Star Crew ENT (ATTRAKT) produced FIFTY FIFTY. They explained that the decision to invest was based on the success of Ha Sung Woon, who was a member of Star Crew ENT at the time, as well as the career, ability, and momentum of ATTRAKT CEO Jun Hong Joon. Furthermore, Interpark Music clarified that the advance payments are intended for the artists' album and music production costs, as well as company operating expenses, and are unrelated to the artist's payment. Therefore, FIFTY FIFTY does not receive any payment from these funds, nor does it incur any debt that needs to be repaid.


It would have been a different story if the advance payment contract explicitly stated that the funds were to be used solely for FIFTY FIFTY. However, Interpark Music refuted this claim as well, stating that the entire investment was not exclusively for FIFTY FIFTY, but for the entire Star Crew ENT at that time, including Ha Sung Woon and other artists.

In light of these facts, why did FIFTY FIFTY file an application for a provisional injunction to terminate their exclusive contract, citing the issue of "unclear payment settlement" as the basis? 

An anonymous entertainment industry official hinted that there was someone who informed the members about their supposed investment debt just before the controversy erupted. It was this "middle man" who brought the reimbursement issue - which had not been discussed during their unsuccessful debut activities - to the forefront only after the success of their song "Cupid."

The official further revealed that tensions had been building up between ATTRAKT CEO Jun Hong Joon and The Givers CEO Ahn Sung Il after the success of "Cupid." The disagreements revolved around additional investments and full-fledged overseas activities. 

The members, influenced by the biased narrative they were exposed to, were then informed that all of their investment money was, in fact, debt that needed to be repaid. For the members, who were not fully aware of the investment situation, this revelation came as a shock, leading them to demand accurate settlement details from that point onward.

ATTRAKT provided the settlement statement requested by FIFTY FIFTY through The Givers. However, the statement showed zero KRW in album sales and music revenue, which only solidified the members' suspicions about the agency. ATTRAKT explained that the revenue was not reflected in the statement because the group's popularity was primarily overseas, and the settlement had not yet been completed due to the recent release of "Cupid." 

Nevertheless, FIFTY FIFTY rejected this explanation. They claimed that the investment, amounting to billions of KRWs, had become an undeniable debt, and as a result, they were unable to receive any payment, leading to the decision to file a lawsuit.

In response to the lawsuit, CEO Jun Hong Joon has consistently expressed his hope for the members to clear up the misunderstanding and return. However, industry insiders closely observing the situation believe that FIFTY FIFTY is unlikely to withdraw the lawsuit. 

Another official pointed out that FIFTY FIFTY firmly believes they will win the case, as celebrities have generally been successful in similar settlement disputes with entertainment companies in the past. Given this perspective, the official stated it seems unlikely that the members will easily reconcile with ATTRAKT. It appears that they will have no choice but to see the legal proceedings through to the end.

Korean netizens are baffled by the ongoing controversy surrounding FIFTY FIFTY. They commented, "The girls are so foolish," "This is just amazing," "I really wonder why these girls are so confident," "These girls really threw away their own luck," "I don't think the trial matters because the CEO already won the public's favor," "These girls are definitely not coming back from this," "The more I find out about this controversy, I feel the girls are really dumb," "So, ATTRAKT said these girls don't woe that debt? Then why are they continuing with the lawsuit?" "Well if there is an issue with the payment settlement, then FIFTY FIFTY will win," and "I guess the girls really think they will win so they won't retract their lawsuit."

  1. FIFTY FIFTY
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dc222a
dc222a2,742 pts Friday, July 14, 2023 2
Friday, July 14, 2023

And that's their problem. Overly cocky with nothing but a TikTok-viral song to back them up. Bye bye!

63 (+68 / -5)
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Titinator
Titinator4,876 pts Friday, July 14, 2023 0
Friday, July 14, 2023

just like the song cupid this girls are stupid stupid indeed

49 (+56 / -7)
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