Friday, August 18, 2023
The K-pop group Fifty Fifty has filed criminal charges against the CEO of their agency ATTRAKT, Jeon Hong Joon. Their legal representative Barun revealed on August 17 that they had filed a criminal complaint against him.
The reasons cited for the charges were “violating the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (breach of trust).” Before signing on with ATTRAKT, the girls were partnered with Hong Joon’s former agency Star Crew Entertainment.
The full statement reads:
“On August 17, 2023, FIFTY FIFTY (Keena, Saena, Sio, Aran) filed a criminal complaint against ATTRAKT CEO Jeon Hong Joon on the charge of violating the Act on the Aggravated Punishment, etc. of Specific Economic Crimes (breach of trust) at the Seoul Gangnam Police Station.
It came to light that CEO Jeon Hong Joon used the advance payment Star Crew Entertainment originally received from their album distributor for unknown expenditures, then nominally included it under girl group investment costs, meaning that ATTRAKT took on the financial obligation of that advance payment, and FIFTY FIFTY’s digital music and album revenue is being used to pay off this debt.
Additionally, it was confirmed that ATTRAKT had the advance payment of 2 billion won (approximately $1.49 million) that needed to be received from FIFTY FIFTY’s album distributor deposited to Star Crew Entertainment, not ATTRAKT.
The above act is a crime that falls under commercial breach of trust by causing financial damage to ATTRAKT.
Up until now, the agency [ATTRAKT] has consistently evaded responsibility by making light of FIFTY FIFTY’s request for provisional disposition [to suspend the validity of their exclusive contracts] as complaints about the payment of their earnings. However, the FIFTY FIFTY members’ [grievances] about ‘the agency’s delay in providing statements on their earnings, missing revenue, and violation of their settlement obligations’ go beyond mere complaints. Therefore, as long as CEO Jong Hong Joon, who has committed breach of trust through embezzlement and misconduct in financial accounting, remains in charge of ATTRAKT, they can no longer maintain their exclusive contracts with their agency ATTRAKT.
In addition to publicly revealing the urgency of FIFTY FIFTY’s situation, filing this criminal complaint was an unavoidable measure to make it clear in concrete terms why they cannot maintain their exclusive contracts with their agency.
At present, the truth is being distorted on the internet, social media, and YouTube, and undue criticism has been formed on the basis of [these distortions], to the point where some of the content is beyond tolerable. We entreat you to please refrain from criticism based on unconfirmed facts or speculation.”