[Transcription] 121031 JYJ, TVXQ and Kara mentioned on KBS News:
Nowadays, there are so many teenagers who want to be an entertainer.
However, as the popularity of the entertainers increase, so do the conflicts b/w them and their management companies.
Fair Trade Commission (FTC) recently released new standards of exemplary trade between the entertainers and their management companies.
The 5 member group Dong Bang Shin Ki that enjoyed the most popularity in its heyday eventually broke up into 2 groups after 3 members had legal disputes about the periods of contract, profit sharing, and etc., so-called “Slave Contract”.
Kim Jaejoong: "I wish there will be a fair system that allows all entertainers to work under good conditions."
Similarly, the group Kara went through a breakup crisis, where the root of the controversy was a conflict with their management company surrounding the unilateral contents of their contract.
So the key point of the new standards of exemplary trade released by the Fair Trade Commission is to eliminate conflicts over unequal profit sharing.
From this time onward, management companies must make financial records available to any entertainer who demands it within a week and must pay the money an entertainer earned within 45 days.
Also, the practice of having an entertainer appear in a TV show/movie free of charge or without his or her consent is now banned.
Regarding teen and female entertainers, a separate policy of human rights protection must be made and shown (to FTC).
These new standards will also be used as an autonomous guideline for solution of conflict in the event of conflicts between management company and affiliated entertainer.
Additionally to prevent would-be entertainers from being swindled information of entertainment management companies such as facilities, personnel, financial position and etc. will be made available online.
Fair Trade Commission stated that from this time forward if management company is caught committing any offense with relation to the standard of exemplary trade, it will be strictly punished applying the Fair Trade Law.
* Watch video: http://www.youtube.com/watch?feature=player_embedded&v=e60UuFV3OYo
Translated by Sofia (@126x204) and proofread by Nikki (@jae2thejoong) ^-^