Big Hit Entertainment demands cosmetic brand 'i.myss' pay 2AM modeling fees
Big Hit Entertainment filed a lawsuit against i.myss demanding 110,000,000 KRW (approximately $97,000 USD) in modeling fees. The label revealed, "In January 2011, we signed a contract with i.myss to produce and sell cosmetics under 2AM's name. In 2011,all the fees were paid by i.myss to 2AM. However, i.myss did not pay 2AM for 2012. At the time, we understood i.myss' situation, so we lowered the requested amount in modeling fees and agreed on delaying the payment."
However, i.myss didn't follow through with their agreement, as Big Hit Entertainment revealed, "According to the agreement, they should have paid 20,000,000 KRW (approximately $18,000 USD) by December 20, 2012 for PPL (product placement) fees, and then an additional 80,000,000 KRW (approximately $70,000 USD) for modeling fees by March 2013, but they haven't followed through. Also, i.myss is selling their products on internet shopping malls using 2AM's image. We are asking for the 100,000,000 KRW in modeling fees and a VAT (Value Added Tax) of 10,000,000 KRW."
Source:Star News