Big Hit Entertainment debunked claims made by JTBC that BTS is seeking to take legal action against the label because of profit disputes. It also called out the station for using illegal means to get the information.
In a lengthy post, Big Hit Entertainment addressed key issues raised by the news report and responded to it point by point.
In its statement, Big Hit Entertainment underscored that all the decisions reached by the management and the BTS members are borne from careful consideration of all parties involved, including the parents of BTS members. The label emphasized that their response also represents the position of the artists' parents, All Kpop reported.
Big Hit debunked the insinuation of the news report that BTS members sought legal counsel from a Gangnam law firm to take legal action against the label because of the unfair distribution of profits.
According to the label, BTS members and their parents did not ask for legal advice about the exclusive contracts related to the video content business as the report claimed, but rather sought insight on some detailed clause of the contract that does not affect its entirety.
Big Hit clarified that they have been meeting with BTS after they made a legal inquiry, but it did not mean that the relationship between the two parties was marred with distrust.
"For reference, we have been encouraging BTS and parents to actively use external advice from accountants and lawyers regarding finance, settlements, and law. This is because it is natural for BTS to hear professional opinions as the value created by BTS is increasing day by day. At the same time, we recognize that disagreements can occur at any time as an important partnership with BTS. We are actively addressing all issues, regardless of the severity of the matter," the firm said.
Big Hit likewise debunked the news report's claim that there was a legal issue over profit-sharing between the company and the artists. The agency said that both parties recognize the equal importance of the roles they play. The label clarified that all parties reached the best model after a lengthy discussion.
Big Hit also questioned how JTBC acquired the information for the report and called out the station for its violation of journalistic principles. The agency said that it was not enough for the journalist to come to the company without any consultation to ask one-sided questions. The label also claimed to have footage of JTBC's journalist breaking into the company to get the information used for the report.
Based on an exclusive report aired by JTBC, the legal issues stemmed from conflicts in the splitting of profits that reached an estimated ₩200 billion KRW ($167,933,162 USD) in 2018. BTS reportedly renewed their 7-year contract with Big Hit in 2018. Projections from experts revealed that the value of BTS will reach ₩1 trillion KRW ($839,665,810 USD) in the coming years, Koreaboo reported.
