Kim Min Jung’s Agency Releases Statement Regarding Dispute Over Contract Termination
Kim Min Jung’s agency WIP released a statement regarding their disagreement about the length of the exclusive contract.
On August 3, it was reported that Kim Min Jung and WIP were in conflict over the expiration of their exclusive contract. Kim Min Jung has sent the agency a certification of contents stating that the contract expired in March since their discussions about a renewal have fallen through, while the agency disagrees.
A source from WIP explained, “Our management duties ended in March according to the documents, but we were discussing an automatic extension of the contract while we carry out our duties until she wraps up filming for ‘The Devil Judge.‘ If she wanted to terminate the contract, we thought it should happen through a discussion, but we seem to have different views.”
WIP released an official statement on August 5 to further explain their position on the matter. Read a translation below:
This is Kim Min Jung’s exclusive management company WIP.
We reveal our official statement regarding the recent report dealing with the exclusive contract between Kim Min Jung and WIP.
WIP signed an exclusive contract with Kim Min Jung on March 21, 2019. The exclusive contract was written according to the standard terms and conditions designated and recommended by the Fair Trade Commission.
We WIP have been diligently fulfilling our contractual duties. We also took an active role in the lawsuit with Kim Min Jung’s former agency Keuda Company.
Including the issue of damages related to “Tazza: One Eyed Jack,” we have successfully resolved issues such as the provisional attachment on the house owned by Kim Min Jung, demanding the suspension and compensation of illegally executed advertisements, and her lawsuit with her former agency about unpaid wages.
By reducing the legal risk surrounding our actress, we led Kim Min Jung through a stable and efficient career in the entertainment industry.
Moreover, ever since the exclusive contract with Kim Min Jung was signed, we have never once violated our contractual duties.
We have paid her the earnings made through her activities based on the contract. She has also been paid over 80 percent of the performance fee for her latest drama “The Devil Judge” currently. The remaining 20 percent will be given to her after it is adjusted with expenses as indicated in the contract.
We WIP have always done our best to strengthen Kim Min Jung’s value. Through this, we have achieved outcomes such as Kim Min Jung’s appearance in a new project, increased performance fee per episode, and various advertisement deals.
WIP will continue to take an active approach to resolve our differences with Kim Min Jung regarding the renewal of her exclusive contract.
We promise to do our best as one of the parties involved in the exclusive contract and as a partner in the same industry.