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[Alpha Biz=(Chicago) Reporter Kim Jisun] The Fair Trade Commission launched an on-site investigation of large entertainment agencies such as HYBE, SM Entertainment and YG Entertainment on the 4th.
The Korea Fair Trade Commission is reportedly looking into whether large entertainment agencies have violated subcontracting laws, including verbal contracts (written unissued), unfair special contracts and delayed payments, in the course of transactions with subcontractors. In particular, it is investigating whether the entertainment agency has abused its power to its singer's album or to an outsourcing company that has entrusted the production of goods that utilize singers.
The issue of unfair contracts between entertainment agencies and their singers was not included in the investigation. Recently, SM Entertainment has settled the conflict with some members of its singer EXO over settlement issues.
Last month, the FTC investigated major game companies such as Krafton and Kakao Games on charges of violating subcontracting laws.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
