A recent scandal involving JYP Entertainment have many netizens and fans making negative comments directed towards the company and CEO.
The issue involves contracts from last year for promotional products for JYP Entertainment’s featured artists. Two primary items, toothbrushes and an “album T-shirt” that would link the wearer to 2PM’s newest album via a QR code.
The subcontractors claim that due to poor sales, they were in possession of excess product, and due to copyright laws, they couldn’t sell it themselves and were forced to take care of the bill.
It was reported that the T-shirt company suffered a loss that is equal to about $100,000 (USD) and the toothbrush company lost approximately $20,000 (USD).
Outraged netizens had a lot to say about the issue.
“JYP is really digging their own grave. Why can’t they do anything right? The companies are just as messed up for signing the contract thinking products like that would sell well and then complaining about it through the news now that it’s not,” said one netizen in response to the MBC coverage of the story.
Other netizens share the same sentiment, remarking that, “JYP’s going to be over soon” and “JYP needs to be kicked out of the industry.”
Quick to react to the scandal, JYP Entertainment released a statement late on Sunday through a press release.
The company stated that, “The official who handled the matter violated the firm’s regulations and left the company earlier this year. When the new official took charge, no problems were noticed in the contracts, and therefore he assumed there were no unresolved issues.”
The release continued, and went on to say that JYP Entertainment was not aware of the damage that the subcontractors sustained. This was because another company, one of which Jin Young Park‘s relative’s ran. The company went on to say that they no longer hold a business relationship with that company.
The statement ended with a future promise to pay much more attention to future subcontractor contracts. They have began working on the current situation after sending official cooperation requests to the companies involved.
While many people are pleased that the company reacted as quickly as they did, others are still calling for them to compensate the companies for their losses.
Source: kpopstarz
Article by: KareBare
Edited by: Jenny
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