Park Yoochun Accused Of Violating Contract Terms By Signing With Another Agency Overseas
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Park Yoochun, formerly of TVXQ, has been accused of contract violation by his company, Re Cielo. According to the company, he had released articles in Japan stating that the company had embezzled funds, causing him to terminate his contract with them. However, the company claims that Park Yoochun had actually signed a dual contract with a Japanese agency. This is not allowed due to the terms of his exclusive contract.
However, about a month ago, Park Yoochun violated our contract terms as we heard that he signed a dual contract with a Japanese agency. This is a clear violation of our contract and we were in preparations to deal with this legally, having contracted Lee Eun’s Legal Services. In the midst of that, we found out that on August 14, 2021, a news article was published in Japan media that the CEO of Re Cielo had embezzled funds and more, causing Park Yoochun to terminate his exclusive contract with us. Right after this, an article was published on August 16, 2021, to say that Park Yoochun’s fan meeting would be pushing through.
— Re Cielo
On the other hand, Re Cielo claims that they have been severely damaged due to the slander and accused Park Yoochun of betrayal. According to Re Cielo, they had been helping Park Yoochun settle his personal debts and spending.
The CEO of Re Cielo and Re Cielo itself is currently facing serious slander as from our point of view, the articles released are clear falsehoods. During this time, Park Yoochun had used the company card for his own personal expenses in entertainment and lifestyle, but the CEO had not taken fault with this and personally helped him with his problem of up to 2 billion KRW in personal debt. Despite this, Park Yoochun had given the company card to his then girlfriend, who was living with him, to buy a luxury bag and spent thousands of company funds on games and other things. Especially, Park Yoochun had mindlessly spent around 100 million KRW at an adult entertainment venue, by which he had begged our company for a long time to foot the bill.
— Re Cielo
They will be taking legal action and righting the wrong with a release of news articles of their official statement.
The full post can be read below.
Hello. This is Re Cielo. On January 1, 2020, we signed our exclusive contract with Park Yoochun. Re Cielo is an agency where Park Yoochun’s manager, who has been with him since promoting as JYJ after TVXQ’s disbandment, created a management company and worked as a representative to help Park Yoochun get back up on his feet. At the time of establishment, Park Yoochun registered his mother as the largest shareholder because it was difficult for him to register due to debt problems. For that reason, the current largest shareholder of Re Cielo is Park Yoo Chun’s mother, but she has never been involved in actual management. Since there was no profit immediately after signing a contract with Park Yoochun, the CEO of Re Cielo has been trying to run the company personally by taking out loans, and ultimately reached annual sales of more than 1 billion KRW at the end of 2020.
However, about a month ago, Park Yoochun violated our contract terms as we heard that he signed a dual contract with a Japanese agency. This is a clear violation of our contract and we were in preparations to deal with this legally, having contracted Lee Eun’s Legal Services. In the midst of that, we found out that on August 14, 2021, a news article was published in Japan media that the CEO of Re Cielo had embezzled funds and more, causing Park Yoochun to terminate his exclusive contract with us. Right after this, an article was published on August 16, 2021, to say that Park Yoochun’s fan meeting would be pushing through.
The CEO of Re Cielo and Re Cielo itself is currently facing serious slander as from our point of view, the articles released are clear falsehoods. During this time, Park Yoochun had used the company card for his own personal expenses in entertainment and lifestyle, but the CEO had not taken fault with this and personally helped him with his problem of up to 2 billion KRW in personal debt. Despite this, Park Yoochun had given the company card to his then girlfriend, who was living with him, to buy a luxury bag and spent thousands of company funds on games and other things. Especially, Park Yoochun had mindlessly spent around 100 million KRW at an adult entertainment venue, by which he had begged our company for a long time to foot the bill.
Because our company had not held back on investment and active support for Park Yoochun, we could start his promotions again, from his album, to overseas concerts, movies etc. We have also properly paid out salaries to him in accordance with his promotions, also having solved his various problems together.
Not only do we feel a sense of betrayal and loss as a human through Park Yoochun’s violation of the exclusive contract, but have also received damage from the slander and we were unable to give our statement in the midst of that. Following this, we will be disseminating articles.
— Re Cielo
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