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K-Pop giants resolve South Korean contract probe with voluntary remedies

( June 24, 2025, 03:01 GMT | Official Statement) -- MLex Summary: Five major South Korean music labels — Hybe, SM Entertainment, YG Entertainment, JYP Entertainment and Starship Entertainment — have reached a consent agreement with the country’s competition regulator over alleged subcontracting violations. The Korea Fair Trade Commission investigated the companies for failing to issue, or delaying the issuance of, written contracts when outsourcing album production, merchandise, video content and performance-related services to subcontractors. The companies applied for a consent decree between April and May 2024, and the regulator launched the process that December. In lieu of formal sanctions, they proposed corrective measures such as standardizing contracts, adopting electronic systems and pledging 1 billion won (about $732,000) in support for subcontractors. The regulator said the remedies were sufficient to restore fair-trading practices and protect smaller businesses.The statement, in Korean, is attached....

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