BTS is NOT considering legal action against Big Hit Entertainment over profits dispute, Korean agency confirms

A South Korean news outlet claimed that BTS approached a law firm and are considering taking legal action against Big Hit Entertainment after there was a dispute between the two over profits. The Korean talent agency has issued a lengthy statement explaining their side.
BTS is NOT considering legal action against Big Hit Entertainment over profits dispute, Korean agency confirmsBTS is NOT considering legal action against Big Hit Entertainment over profits dispute, Korean agency confirms
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In a shocking turn of events, South Korean network JTBC’s “News Room” claimed that BTS is planning on taking legal action against their agency Big Hit Entertainment. The international report claims that the K-Pop band, that has been with the agency for over seven years, is planning to take action against them over "profit distributions." The report claimed that Jin, Suga, Jungkook, V, Jimin, J-Hope and RM reached out to a large law firm based in Seoul's Gangnam district to seek legal advice. However, a lengthy statement issued by Big Hit Entertainment denies the report. 

Deeming the claims "false," the statement clarifies, "BTS is not trying to take legal action because of a specific issue, but rather is consulting with us after making a legal inquiry. JTBC changed our relationship in their report." The agency apologised for causing distress among fans. "BTS currently has no intention of responding to a lawsuit on exclusive contracts that include revenue sharing. We are deeply sorry that the public was misled to believe there is a serious dispute with our company," the statement added. 

Big Hit has demanded an apology from JTBC for causing damage to Big Hit and BTS. "Whatever JTBC's intention for this report, it is not true. JTBC has reported it as true and related it to issues not related to our company, which has caused damage to us and BTS. We believe that JTBC's report is a problem and does not comply with minimum principles. We ask for JTBC's sincere apology and response." 

Check out the Big Hit Entertainment's full statement below: 

"Hello. This is Big Hit Entertainment. 

Yesterday (December 9th), at 8 pm, JTBC Newsroom reporters Choi Soo Yeon and Lee Ho Jin reported that BTS is in profit disputes with our label. We are revealing our statement in regards to that. 

This statement is one that BTS and their parents both agree with. Since these are individual matters, BTS and their parents can't help but ask JTBC what motive they had to report on this news. While it is not clear what the revenue sharing issue between us and BTS discussed in the article means, we are currently discussing some issues that will not affect our exclusive contract. The matter has been expanded and reported as if there is a dispute. This is not the case.

The following positions are individually stated for this report.

1. "BTS has asked legal counsel of a large law firm in Gangnam for the distribution of profits with our company, and are considering a legal response against us."

This is not true.

After the report, we conducted a checkup with BTS members and parents. BTS's parents did not inquire about legal matters about some of the exclusive contracts related to the video content business two months ago. This has been verified. At the time, the inquiry did not result in a referral, and the law firm did not have official advice.

Since then, we have been discussing this issue. it is not true that we reported a dispute over this issue. In particular, the inquiries at the time correspond to some of the numerous projects that we and BTS carry out, and even if a problem arises in this matter, it is only a detailed clause in the contract that cannot affect the exclusive contract.

In other words, BTS is not trying to take legal action because of a specific issue, but rather is consulting with us after making a legal inquiry. JTBC changed our relationship in their report.

For reference, we have been encouraging BTS and parents to actively use external advice from accountants and lawyers regarding finance, settlements and law. This is because it is natural for BTS to hear professional opinions as the value created by BTS is increasing day by day.

At the same time, we recognize that disagreements can occur at any time as an important partnership with BTS. We are actively addressing all issues, regardless of the severity of the matter.

Therefore, it is not true that BTS and parents are considering a legal response with us, and we must ask why JTBC has expanded their report in this way. 

2. BTS had a conflict with us over profit-sharing ahead of re-signing last year, and we went through legal review.

This is not true.

BTS currently has no intention of responding to a lawsuit on exclusive contracts that include revenue sharing. We are deeply sorry that the public was misled to believe there is a serious dispute with our company.

As for the renewal contract last year, we and BTS recognized each other as equal partners. Recognizing that the process of signing a renewal could not be as simple as the value of BTS creates, we and BTS reached the best model after a lengthy discussion.

3. Regarding problems in reporting activities

After the report about our company, we were immediately associated with the Korean Wave. We are deeply sorry for the fact that some of the entertainment companies that have nothing to do with this.

JTBC has been expanding the report without confirming the facts of our company.

It was not enough to come to our company without prior consultation and ask a one-sided question without any background explanation. We judged that there was a problem with these reports, and secretly recorded the content and then posted it online.

We have not only the video that JTBC used for the first report but also the CCTV video that recorded the footage of the journalist breaking into our company. It is our position that the media should report according to the principles, as long as freedom of the press is guaranteed, and we plan to raise concerns separately about JTBC's reporting behavior in this regard.

Whatever JTBC's intention for this report, it is not true. JTBC has reported it as true and related it to issues not related to our company, which has caused damage to us and BTS. We believe that JTBC's report is a problem and does not comply with minimum principles. We ask for JTBC's sincere apology and response.

Thank you."

Stay tuned to Pinkvilla for more updates. 

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