JYJ, SM Come to Agreement Regarding Exclusive Contract Issue
10아시아최종수정 2012.11.28 16:08 기사입력 2012.11.28 16:08
|JYJ members Kim Junsu (left), Kim Jae-joong (center) and Park Yuchun (right) pose before the appointment ceremony of the upcoming Korea Brand & Entertainment Expo [KBEE2012], held at Korea Trade-Investment Promotion Agency's head office in southern Seoul, Korea on October 17, 2012. [Lee Jin-hyuk/ 10Asia]|
K-pop idol trio JYJ and SM Entertainment have finally reached an agreement on their long-running legal conflict on exclusive contract issue which lasted three years and four months.
According to press releases of JYJ's agency C-Jes Entertainment and SM on Wednesday, the group and SM reached an agreement to terminate all the contracts signed between the two parties and not to interfere with each other's future activities.
“We made a judgment that we don’t have to manage the three members of JYJ any longer as they expressed their intention not to keep their activity as TVXQ!,” an official from SM was quoted as saying.
“We came to the conclusion ending this litigation would be the best way to protect U-Know Yunho and Max Changmin, who are still actively working as TVXQ!, from any additional or unnecessary damages.”
In the meantime, Baek Chang-joo, C-JeS Entertainment C.E.O, said in the statement that the past conflict would be a milestone to eliminate any unfair contracts between agencies and artists.
After JYJ filed a case against SM in July 2009, South Korean court accepted the case but SM Entertainment filed countercharge for damage compensation in April of 2010. The Seoul Central District Court dismissed SM Entertainment’s injunctions against JYJ last February.
Thanks to the reconcile announcement this morning, JYJ and TVXQ! can now concentrate on their future activities, several Korea's media outlets forecasted.
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