One Hundred Expresses Regret Over The Boyz Injunction Ruling...Plans to File Objection

"In Ongoing Merger and Acquisition Discussions"

The Boyz. One Hundred

One Hundred Label, the agency of the group The Boyz, announced on April 24 that it will take legal action in response to the court’s decision to grant a provisional injunction suspending the validity of exclusive contracts for 9 out of 10 members.

On April 24, One Hundred released a statement saying, "The court's decision to grant the injunction is only a temporary measure until a final judgment is reached and does not represent a final ruling." The agency claimed, "The other party’s assertion that the exclusive contracts were lawfully terminated and have lost their effect is a clear legal distortion." The agency further argued that, due to the urgency of the proceedings, key supporting evidence was not adequately reviewed, and stated that it plans to promptly file an objection.

The agency also refuted claims regarding unpaid settlement amounts. One Hundred explained, "When the exclusive contracts were signed, a total of 16.5 billion won was already paid to the 11 members, with 1.5 billion won per member." The agency continued, "Even after deducting the 1.66 billion won claimed as unpaid settlement from the 13.5 billion won paid to the 9 members who filed for the injunction, 11.8 billion won remains." The agency emphasized, "There is a high likelihood that the other party’s claim that they have not received any settlements will be overturned in the main lawsuit."

The agency also commented on the concert preparations. It stated, "The concert scheduled for April is being prepared through a professional company that we contracted directly," denying claims that the members shouldered personal expenses for the preparations.

Regarding rumors of management deterioration, the agency said, "We are continuing discussions with domestic and international investors regarding mergers and acquisitions (M&A)," and stressed, "We will utilize all possible legal and managerial means to prevent the company’s bankruptcy." One Hundred expressed concerns that the court’s decision could set a negative precedent for the K-pop industry as a whole and pledged to reveal the truth through the legal procedures stipulated by law.

This content was produced with the assistance of AI translation services.