JYP adopts new entertainer contracts
The new contract protocol follows an investigation conducted earlier this year by the KFTC, which found unfair clauses in contracts for 230 entertainers managed by 19 agencies.
According to the KFTC, JYP’s new contract shortens the length of artist contracts to a maximum of seven years, sets the earnings ratio according to market value, gives artists the power to decide their own schedules and contains other terms to better protect the rights of artists.
Jung Wook, a representative of JYP Entertainment, said that “it is impossible to standardize every single contract” and that the agency also made minor changes to the standard contract protocol to match the current needs of the entertainment industry.
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