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06 February 2011

Japanese press "TVXQ's three members' penalty for breach of contract amounts up to 130 billion KRW (about 120 million USD)

Japanese press published an article estimating that TVXQ's penalty for a breach of contract would have been more than 130 billion KRW (about 120 million USD).

On Feb. 5th, ZAKZAK, online news website affiliated with Japan Sankei Entertainment News,

published an article analyzing the TVXQ situation based on clauses of the contract and the ruling statements from petition for preliminary injunction to void exclusive contract that Jaejoong, Yuchun and Junsu have filed against SME in 2009.

In this article, an unnamed source, expert in both Korean and Japanese entertainment management business revealed that "each member from TVXQ received 0.4~1% of profit during their Japanese activities and received no guarantee when the music sales volume was less than 50,000 albums," and added that "when there was a breach of contract, they were required to pay a penalty that sums up to three times the investment up to that point and twice the estimated profit for the rest of contract period which was six years. That basically is more than 10 billion YEN (approx. 130 billion KRW, 120 million USD)"

Zakzak also revealed that the clauses of contract stating that "rights regarding all media appearances and entertainment activities within the country and overseas belongs to the production company,"and "all copyrights, including the right to reproduce, to copy, to record, to distribute, to broadcast, to perform, to use in karaoke, and to make secondary products, regarding their own written, arranged music and lyrics are transferred to the production company" were just simply "shocking."

Zakzak added at the end of the article that "Korea Wave has a style of patiently raising new artists up by making huge investments and signing long-term contracts" and that "this may be hard to understand for Japanese, but that skill is what has conquered the Asian entertainment world right now."


Original Article: http://news.nate.com...03971?mid=e0102,

Credits: @DCtvxq_gall - DC TVXQ Gallery

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