[Maeil Business Star Today Jin Hyang-hee]
Boy group BTS is expected to enter into legal action about profit distribution against their agency, Big Hit Entertainment.
JTBC ‘Newsroom’, which aired on the 9th, reported that “BTS has been recently consulted by a large law firm for profit sharing issues.”
BTS signed a seven-year contract with Big Hit last October. However, in the process of re-signing, there was a conflict due to the settlement of profits, and eventually the law review was made without narrowing the stance.
According to the report, BTS’ review of the legal response against the Big Hit has recently been posted on the inner network of large law firms in Gangnam, Seoul.
Attorney A stated at Newsroom, “We are looking into existing conflict cases and seeing no conflict of interest.”
However, the law firm in question said that they were not able to confirm the Newsroom’s report.
“Newsroom” added that Big Hit Entertainment responded they have nothing to say except that it is not true.
Big Hit recorded their highest profit in 2018 since its foundation, and recorded an estimated profit over 200 billion won. The company’s enterprise value is estimated to rise to over 1 trillion won.
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