Dispute Between Kim Min-jung and WIP Entertainment, "There Has Been No Breach of Contract"

WIP Entertainment announced its position on the exclusive contract dispute with actress Kim Min-jung.

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"WIP Entertainment has faithfully complied with its exclusive contractual obligations", WIP said in an official statement on the 5th. "In particular, we have been actively involved in the lawsuit with Kim Min-jung's former agency, Great Company".

"Through this, we have successfully completed compensation for damages related to the movie "Tazza: One Eyed Jack", real estate seizure to Kim Min-jung's home, suspended use of illegally executed advertisements and damages, and lawsuits against the former agency's payment of U.S. settlement".

"By addressing the legal risks surrounding the actress, Kim Min-jung has led stable and efficient entertainment activities. Moreover, WIP stresses that since signing an exclusive contract with Kim Min-jung, it has not violated its contractual obligations at all".

"We will continue to take an active stance to resolve differences over the extension of exclusive contracts with Kim Min-jung", it added. "We promise to do our best as a party to the contract and a partner in the same industry".

Previously, Kim Min-jung signed an exclusive contract with WIP Entertainment in April 2019. Recently, Kim Min-jung claimed that her contract with WIP expired as of March.

Meanwhile, Kim Min-jung made her debut in the entertainment industry with the MBC drama in 1990. She is currently in tvN's weekend drama "The Devil Judge".

The following is WIP Entertainment's full, official position.

This is actress Lee Min-jung's agency WIP Entertainment.

This is an official statement regarding the recent reports on the exclusive contract signed between actress Kim Min-jung and WIP.

WIP signed with actress Kim Min-jung on the 21st of March in 2019. The exclusive contract was prepared in accordance with the standard terms and conditions established and recommended by the Fair Trade Commission.

WIP has faithfully complied with its exclusive contractual obligations. In particular, we have been actively involved in the lawsuit with Kim Min-jung's former agency, Great Company.

Through this, we have successfully completed compensation for damages related to the movie "Tazza: One Eyed Jack", real estate seizure to Kim Min-jung's home, suspended use of illegally executed advertisements and damages, and lawsuits against the former agency's payment of U.S. settlement.

By addressing the legal risks surrounding the actress, Kim Min-jung has led stable and efficient entertainment activities.

Moreover, WIP stresses that since signing an exclusive contract with Kim Min-jung, it has not violated its contractual obligations at all.

Especially, the proceeds from Kim Min-jung's activities have been paid according to the contract. The appearance fee of "The Devil Judge" starring Kim Min-jung has also been paid up to 80%. The remaining 20% of the contribution fee will also be paid through the process of handling and settlement under the exclusive contract.

WIP has always tried to enhance Kim Min-jung's value. Through this, Kim Min-jung's next film, increased the appearance fee per episode, and signed a number of advertising contracts.

WIP will continue to take an active position to resolve differences over the extension of exclusive contract with Kim Min-jung.

We promise to do our best as a party to the contract and a partner in the same industry.