The MBN "King of Singers 2" nationwide tour concert has officially begun, and nCH Entertainment has stated its position.
nCH announced on the 18th its stance regarding the joint business contract for the "King of Singers 2" concert and management.
nCH stated, "Krea Studio unilaterally notified us of the termination of the 'King of Singers 2' joint business contract without a clear reason for termination specified in the contract, and in response, we filed a 'contract validity lawsuit' against this unjust termination notice." It added, "However, despite the ongoing lawsuit, Krea has been unlawfully proceeding with the nationwide tour performance of 'King of Singers 2,' having signed a double contract for performance rights with a third party in October of last year."
It emphasized, "We have reached a point where we can no longer continue business with Krea, and we have filed a 'damages claim' seeking approximately 6.43 billion won in damages due to Krea's unilateral actions. Additionally, we have filed a criminal complaint against Krea Studio's CEO, Seo Hye-jin, on charges of 'breach of trust' related to the double contract, and the police investigation is ongoing."
In addition, nCH noted, "When conducting the concert business for 'King of Singers 2,' we received an investment of 1.1 billion won from 'DION Communication' through 'Showdang ENT.' After the contract dispute with Krea arose, the representative of 'Jindoong Ki,' who is also a director at 'DION Communication' and an agency for Hwanhee, provided a statement on behalf of Krea, which was submitted to the court."
Finally, it stated, "We express strong regret over Krea's unilateral claim asserting the legitimacy of continuing the concert, and we urge that no further harm be caused from being misled by Krea's one-sided assertions."
Meanwhile, earlier, Krea Studio stated, "We terminated the joint business contract with nCH regarding the 'King of Singers 2' concert due to nCH's breach of contract, and regarding the refund of the investment due to that termination, we have completed the full deposit of 4.4 billion won as of Oct. 16, 2024, due to the repayment and execution deposit. Therefore, all contractual relations with nCH have been terminated."
Next is the full statement from nCH Entertainment.
Hello, this is nCH Entertainment.
We would like to inform you of the accurate facts regarding the joint business contract for the "King of Singers 2" concert and management as follows.
Krea Studio unilaterally notified us of the termination of the 'King of Singers 2' joint business contract without a clear reason for termination specified in the contract, and in response, we filed a 'contract validity lawsuit' against this unjust termination notice.
However, despite the ongoing lawsuit, Krea has been unlawfully proceeding with the nationwide tour performance of 'King of Singers 2,' having signed a double contract for performance rights with a third party in October of last year.
We have determined that we can no longer continue business with Krea, and we have filed a 'damages claim' against Krea seeking approximately 6.43 billion won in damages due to Krea's unilateral actions. Additionally, we have filed a criminal complaint against Krea Studio's CEO, Seo Hye-jin, on charges of 'breach of trust' related to the double contract, and the police investigation is ongoing.
Furthermore, we would like to inform you that we received an investment of 1.1 billion won from 'DION Communication' through 'Showdang ENT' while conducting the concert business for 'King of Singers 2,' and after the contract dispute with Krea arose, the representative of 'Jindoong Ki,' who is also a director at 'DION Communication' and an agency for Hwanhee, submitted a statement on behalf of Krea to the court.
We express strong regret over Krea's unilateral claim asserting the legitimacy of continuing the concert, and we urge that no further harm be caused from being misled by Krea's one-sided assertions.
Thank you.
[Photo] Krea Studio
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