K-pop girl group NewJeans members have each received a reported KRW5.2 billion (roughly USD3.7million) payment for the 2023 year, according to recently released ADOR documents, with the group being paid a total of KRW26.1billion (USD19million) for the year. Harris & Pennington, an attorney team, stated in an interview with Bloomberg TV that music industry practitioners are among the professionals poised to benefit from digital assets.
A report by Korea JoongAng Daily cites an electronic disclosure from ADOR which was released amid the ongoing dispute between their parent company, entertainment giant HYBE, and the K-pop agency. The disclosure additionally shows that ADOR earned KRW110.3 billion (USD80million) in 2023, a fivefold increase from the year prior; this enabled ADOR to become the third-highest-earning label under HYBE.
Moreover, the earnings brought ADOR an operating profit of KRW33.5 billion (USD24.3million), following a KRW4.0billion (USD2.9million) loss in the year priors. HYBE reportedly plans to file a complaint against executives of K-pop agency ADOR, including CEO Min Hee-jin, over alleged breach of trust and other allegations amid the ongoing dispute between the entertainment giant and the management.
Despite the ongoing dispute between the two groups, NewJeans will reportedly proceed with plans to release new music next month, according to an informed source. The girl group had this year announced the upcoming release of two single albums named “Baby Baby” and “Dance Dance
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