Korean Commercial Arbitration Board Rules Contract Between Fantagio And Kang Han Na Is Still Valid

The Korean Commercial Arbitration Board (KCAB) has ruled that the exclusive contract between actress Kang Han Na and Fantagio is still valid.

Their ruling, which was made on February 22 according to Fantagio, holds the same legal validity as a court ruling and cannot be appealed.

The Korean Commercial Arbitration Board stated, “It is difficult for us to find the exclusive contract between Fantagio and Kang Han Na to be invalid and we do not find Kang Han Na’s reason for termination to be lawful as Fantagio faithfully performed their duties as a management company for Kang Han Na.”

Regarding Kang Han Na’s claim that Fantagio fulfilled their qualifications under the Popular Culture and Arts Industry Development Act after the set deadline, the Korean Commercial Arbitration Board stated, “As this is a matter that occurred after Kang Han Na broke away from her contract with Fantagio, she cannot claim it as a reason for terminating her contract.”

In 2018, Kang Han Na submitted a notice of termination with Fantagio after JC Group became their largest shareholder and co-CEO Na Byung Jun was fired, leading to the Chinese CEO taking full control over the agency. Kang Han Na has since signed on with STARDIUM, the new agency run by Na Byung Jun, and has been pursuing activities separately from Fantagio. The agency announced that they would be taking legal action against the actress for signing with another agency.

Fantagio stated, “An arbitration request was submitted to the Korean Commercial Arbitration Board regarding out issue with Kang Han Na, and we gave them our full cooperation. The arbitration has resulted in a clear ruling that our exclusive contract with Kang Han Na is still valid.”

Their legal representative explained, “The ruling was a logical decision to preserve the sanctity of respecting contracts for the healthy growth of the entertainment industry. The ruling proved that exclusive contracts cannot be terminated because the celebrity has a close relationship with a former management executive, and we believe this has set an important precedent.”

The agency stated, “We apologize for causing concern over this issue, and we want to thank everyone who believed in us and support us,” and “Fantagio will continue to give our artist our full investment and support, and we promise to continue to grow with our employees.”

Source (1) (2)

How does this article make you feel?
0
0
0
0
0