[theqoo/NETIZENBUZZ][EXCLUSIVE] SHINHAN FINANCIAL GROUP TERMINATES THEIR CONTRACT WITH NEWJEANS FOR “SUPER SOL”… WON’T BE RENEWING

NewJeans ends their Super SOL ad contract with Shinhan Financial Group

Shinhan Financial Group has decided not to renew its modeling contract with NewJeans, which it had signed for its “Super SOL” campaign. This move comes after NewJeans recently unilaterally announced the termination of their exclusive contract with their agency, Ador, and the growing dispute with the agency.

According to industry sources on the 13th, Shinhan Financial Group has chosen not to extend the advertising contract with NewJeans, who had been hired as the brand model for its integrated platform “SOL” since last year, in order to successfully brand it.

A Shinhan Financial representative said, “The Super SOL brand advertising contract with NewJeans will end in December and will not be extended.” However, they added, “Since the modeling contracts are separate for each product and affiliate, the NewJeans ads already filmed will continue to run until March.”

[…]

As the main brand contract comes to an end, it is likely that other affiliate or product advertising contracts will not be extended, as the unified advertising contract with NewJeans was initially made to maintain brand consistency for “Super SOL.”

Shinhan Financial affiliates had previously chosen NewJeans as their model to better connect with the MZ generation. However, as NewJeans became embroiled in a dispute with their agency Ador, their position has become more complicated.

On the 29th of last month, NewJeans held a press conference to unilaterally announce the termination of their exclusive contract with their agency, Ador. In response, Ador filed a lawsuit with the Seoul District Court to confirm the validity of the exclusive contract. As a result, advertisers are now uncertain about where to direct the contract payments.

While NewJeans is continuing to fulfill the existing schedule set by Ador, they are already facing restrictions, such as not being able to mention their team name, NewJeans, at events they participate in.

Additionally, there are allegations of “tampering” suggesting that Min Hee-jin, the former head of Ador, has been encouraging NewJeans to leave their agency. Earlier, entertainment media outlet Dispatch reported that Min Hee-jin met with CEO A of Company D through an introduction by a relative of a NewJeans member, B. The meeting, which took place in Cheongdam-dong, lasted for about three hours. Min Hee-jin’s side responded by filing a defamation lawsuit against the journalists who reported the story under the Information and Communications Network Act.

From an advertiser’s perspective, it is understandable that extending contracts has become difficult. If individual members proceed with advertising contracts on their own, there is a high possibility they will immediately be caught up in legal disputes.

Under the current exclusive contract, individual activities of the members or activities conducted through third parties are considered contract violations. Third parties include not only external agencies but also family-owned companies set up by the members or their parents.

According to Articles 2, 6, and 14 of the Ministry of Culture’s Standard Exclusive Contract, which describe the exclusive management rights, all entertainment activities of the artist must be carried out through the agency (their agency). Furthermore, during the contract period, the artist cannot negotiate appearances or provide cultural and artistic services on their own or through a third party without the prior approval of the agency.

source: https://n.news.naver.com/article/008/0005128292?sid=102

original post: here

1. It’s literally because their contract is ending, what kind of mediaplay is this?

2. Their contract is wrapping up, but they’re using this to mediaplay. As expected HYBoongie live up to their Yongsan r**ards name ❤️

3. HYBE is honestly disgusting 

4. NewJeans doesn’t have a current company, this is why they’re not renewing. Look at the comments from the part timers here, they’re so low… Imagine supporting a business.. 

5. HYBoongie’s part timers really show their age here ㅋㅋㅋㅋ Your brains have all melted so you’re unable to see the situation objectively and you can’t even realize it yourselves ㅠ ㅋㅋㅋㅋㅋㅋ

6. That’s wise from Shinhan 

7. Look at them mediaplaying with this 

8. I f*cking hate HYBE

9. This isn’t even controversial 

10. HYBoong❤️being disgusting

[NETIZENBUZZ] BECAUSE OF NEWJEANS’ COMPANY, THEY WON’T BE RENEWING THEIR CONTRACT WITH SHINHAN BANK

post response:

[+126][-151]

1. [+114, -18]

HYBE is trying to media play and releasing articles in a way that insinuates that Shinhan bank was the one who cut them off. But from Shinhan’s side, they refuted saying that they were over the contract expiry time so HYBE deleted the article of them media playing right awayㅋㅋ I can feel the inferiority complex they had over NewJeans’ CFs. Sad

2. [+95, -25]

It’s probably because of the ad fees and trademark rightsㅋㅋㅋ The HYBoongies down here keep whining about the imageㅋㅋㅋ If it was really because of the image, the contract would’ve been terminated immediately^^~ But NewJeans’ ads that were filmed up until March are still being airedㅎㅎ”

3. [+78, -13]

Since the modeling was done under the trademark “NewJeans” and not as individuals, the contract is effectively over once they can no longer use the name “NewJeans”

4. [+73, -15]

This was obvious. I’m a fan of NewJeans but there’s one issue with NewJeans having no company and right now, they need to go through their CF brands too! The haters were already wishing them to get cut my CF companies since Aprilㅠ

5. [+69, -14]

I’m curious about the comments below. LSRF doesn’t even have one major CF right now?? Brands like Shinhan, NIKE and Coca-Cola for example