ATTRACT, The Court Approves A Seizure Of The Copyright Fee Bond From The Givers’ Ahn Sung Il

1 years ago By Neil Ross

In a recent development that has sent shockwaves through the entertainment industry, the Seoul Eastern District Court has given its approval for the seizure of copyright fees from The Givers’ CEO, Ahn Sung Il, pertaining to FIFTY FIFTY’s albums “THE FIFTY” and “The Beginning: Cupid.” This dramatic turn of events follows allegations of embezzlement involving Ahn Sung Il during his collaboration with ATTRAKT. Here’s a closer look at the unfolding saga that has gripped the K-pop world.

The Embezzlement Revelation

ATTRAKT, a dynamic player in the K-pop scene, dropped a bombshell when they accused The Givers’ CEO Ahn Sung Il of embezzling company funds while working in tandem with them. The allegations shook the foundation of trust between the parties involved and set in motion a series of legal actions.

Credits: Pinkvilla

The copyright fees linked to Ahn Sung Il’s albums, which included FIFTY FIFTY’s highly acclaimed “THE FIFTY” and the chart-topping single “The Beginning: Cupid,” were promptly suspended by the court’s order. These copyrights had previously been registered under Ahn Sung Il’s name with the Copyright Association. This seizure of the copyright fee bond represents a crucial step in addressing the alleged embezzlement, as it seeks to recover a portion of the misappropriated funds.

A Broader Legal Battle

This courtroom victory for ATTRAKT is just the beginning. The company has plans to pursue the seizure of additional funds connected to the embezzlement allegations against Ahn Sung Il. The court’s approval underscores the gravity of the situation, as it marks the first legal ruling in the ongoing civil and criminal lawsuit brought by ATTRAKT against Ahn Sung Il.

The Complex Web of Relationships

Credits: Pinkvilla

To comprehend the significance of this legal showdown, we must first delve into the intricate web of connections among FIFTY FIFTY, ATTRAKT, and The Givers. The story begins with a collaborative effort between ATTRAKT’s CEO, Jeon Hong Joon, and The Givers’ CEO and Chief Producer, Ahn Sung Il. Together with the U.S.A-based production company KAMP, they embarked on the journey of creating a global K-pop girl group.

KAMP initially shouldered international promotional duties, while Ahn Sung Il assumed the role of the producer for FIFTY FIFTY. Auditions were conducted, and trainees were recruited from 2019 to 2020. However, in 2021, KAMP withdrew from the project. Despite the setbacks, FIFTY FIFTY finally emerged as a four-member group in 2022.

Jeon Hong Joon and Ahn Sung Il worked tirelessly to propel the group to stardom. ATTRAKT’s CEO focused on managing investors, while The Givers’ CEO took charge of the group members and their training. Together, these two fledgling companies achieved the remarkable feat of placing FIFTY FIFTY on the Billboard charts. However, an alarming revelation surfaced regarding the distribution of copyright shares.

Credits: Pinkvilla

FIFTY FIFTY’s breakout hit, “Cupid,” enjoyed massive success worldwide, with its copyright largely vested in Ahn Sung Il. His combined share, comprising individual stakes and those of The Givers, amounted to approximately 95%. Consequently, the members of FIFTY FIFTY found themselves receiving diminished compensation due to this unequal distribution.

In response to these grievances, FIFTY FIFTY initiated legal proceedings, starting with a bid to terminate their contract with their agency. Subsequently, they filed a criminal case against Ahn Sung Il, setting the stage for a protracted legal battle.

A Turning Point in Court

The latest development in this multifaceted dispute involves ATTRAKT’s successful bid to have Ahn Sung Il’s copyright royalties suspended. These royalties pertain to FIFTY FIFTY’s debut album “THE FIFTY” and “The Beginning: Cupid,” both registered with the Korea Music Copyright Association. The court’s decision has put a halt to the payment of these royalties. Moreover, ATTRAKT has revealed plans to seek further seizures of funds associated with Ahn Sung Il’s alleged embezzlement and misappropriation, which have recently come to light.

Beyond the legal realm, ATTRAKT is also gearing up for a new girl group project, separate from FIFTY FIFTY’s exclusive contract termination application. This move underscores their determination to continue contributing to the K-pop landscape while addressing the ongoing challenges within the industry.

In conclusion, the court’s approval of the seizure of copyright fees connected to Ahn Sung Il’s albums represents a pivotal moment in the legal dispute involving ATTRAKT, FIFTY FIFTY, and The Givers. As the lawsuit unfolds, it will undoubtedly have far-reaching implications for the K-pop industry, reshaping how artists, producers, and agencies collaborate and share the fruits of their creative endeavors.