Group The Boyz members Sangyeon, Jacob, Younghoon, Hyunjae, Juyeon, Kevin, Q, Sunwoo, and Eric issued an official position regarding the court's grant of their request for a provisional injunction to suspend the effectiveness of their exclusive contracts.
On the 23rd, Group The Boyz members Sangyeon, Jacob, Younghoon, Hyunjae, Juyeon, Kevin, Q, Sunwoo, and Eric (hereafter the artists) said, "The court today ruled to grant the artists' request for a provisional injunction to suspend the effectiveness of their exclusive contracts. Accordingly, the artists inform that they have confirmed through the court's judgment that their exclusive contracts with One Hundred Label (hereafter the agency) were lawfully terminated and that those contracts' effects have ended."
The artists said, "The court recognized that the agency breached its obligation to pay settlement payments, failed to fulfill its obligation to provide settlement documents necessary to verify the appropriateness of the settlements, and, furthermore, failed to fulfill key contractual obligations such as management support and the duty to protect the artists. Taking these circumstances together, the court acknowledged that the agency's fault led to a breakdown of trust between the parties to a degree that recovery was difficult."
In particular, the artists said, "Until now the agency argued in the media and in the injunction proceedings that the contract payments had the character of 'advance payments,' but the court explicitly rejected that. The court made clear that the contract's provisions separately regulate the payment of contract money and the distribution of settlement payments arising from revenue, and that there is no agreement allowing already paid contract money to replace settlement payments that should be newly paid to the artists. The court also made clear that contract payments are distinctly separate from settlement payments as compensation paid separately to artists who already had considerable popularity and recognition at the time the exclusive contract was concluded in order to sign contracts with them. As such, the contract money paid by the agency to the artists was the amount the agency offered to acquire them, considering the artists' current and future value and marketability, and although the exclusive contract was concluded by mutual consent, the agency's belated distortion of the scale or nature of the contract money paid to the artists is merely an attempt to reverse and deny its own prior judgments and decisions."
They added, "The artists are sorry for causing fatigue due to unnecessary noise during the process of parting with the agency," and said, "However, we hope that the upcoming follow-up procedures will be resolved more amicably and swiftly, and the artists will continue to do their best activities beside the fans. We ask for your continued interest, support and warm encouragement."
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