Lee Mu-jin files injunction against agency to suspend exclusive contract... "KRW 2.1 billion unsettled"

[Financial News] Singer Lee Mu-jin has filed an injunction seeking to suspend his agency's exclusive contract, citing tens of billions of won in unpaid settlements.
The Seoul Central District Court Civil Division 50, presided over by Judge Lee Sang-hoon, held a hearing on the injunction request filed by Lee Mu-jin against Big Planet Made Entertainment on the 27th.
Lee Mu-jin's side explained the purpose of the request, saying, "We notified the agency of the termination of the exclusive contract due to the debtor's breach of its settlement obligations, but Lee Mu-jin is still listed as an artist under the debtor on portal sites and elsewhere. For Lee Mu-jin to carry out entertainment activities more safely, a judicial ruling on this matter is necessary." Lee's side said the unpaid amount owed by the agency amounts to KRW 2.1 billion.
The agency, meanwhile, said, "We do not believe the failure to pay the settlement money is entirely the debtor's fault," but added, "If Lee Mu-jin wants the exclusive contract to be suspended, we will accept that." In other words, it said it would accept Lee Mu-jin's request to halt the effect of the exclusive contract, separate from whether the settlement money is paid. It added, "We have spent years together, and the company feels disheartened that he is leaving like this because the company has fallen into difficulty."
The court said both sides will try for the next three weeks to reach an agreement to terminate the exclusive contract, and if that fails, the case will proceed.
Lee Mu-jin notified Big Planet Made Entertainment of the termination of his exclusive contract in March and filed the injunction on the 7th of this month.
He is also reportedly considering filing a main lawsuit to claim the unpaid settlement money.
[email protected] Jung Kyung-soo Reporter