[ASKKPOP] NH EMG, home to U-KISS & LABOUM, ordered to pay $123,000USD to TSN Company
NH EMG, home toU-KISSandLABOUM, has lost their lawsuit on repaying a prepayment.
The contract also stated that if the actual album sales did not reach 90% of the prepaid amount, then NH EMG would provide extra U-KISS albums to TSN Company. However, the album sales did not reach even 60% of the prepaid amount even 7 months after the release. TSN Company in the end sent proof that NH EMG did not send additional mini albums despite not fulfilling the projected sales, and ended up filing a lawsuit. NH EMG said, "We made efforts to make more of U-KISS' mini albums, but because of difficult circumstances, we changed the contract to give overLaboumalbums instead."
TSN Companyhad suedNH EMG, demanding 143,691,143 KRW (about $123,000 USD) back. TSN Company is a music distributions company, that had signed a contract with NH EMG with 2 of U-KISS' 2013 mini albums and LABOUM's mini album. TSN company prepaid about 650 million KRW (~$557,000 USD) up front.
The contract also stated that if the actual album sales did not reach 90% of the prepaid amount, then NH EMG would provide extra U-KISS albums to TSN Company. However, the album sales did not reach even 60% of the prepaid amount even 7 months after the release. TSN Company in the end sent proof that NH EMG did not send additional mini albums despite not fulfilling the projected sales, and ended up filing a lawsuit. NH EMG said, "We made efforts to make more of U-KISS' mini albums, but because of difficult circumstances, we changed the contract to give overLaboumalbums instead."
However, the court ruled that there was not enough evidence that NH EMG fulfilled their part of the contract and that NH EMG must pay the remaining 143,691,143 KRW back to TSN Company.
Tip: fugfug