IST Entertainment, the current agency for K-pop boy group THE BOYZ, has issued a statement addressing unilateral claims about the group’s trademark rights.
In an official statement released on Wednesday, IST expressed regret over what it described as clearly incorrect information regarding the trademark dispute and sought to clarify the situation.
IST stated, “Contrary to recent reports, our company has agreed to provide all 11 members of THE BOYZ with the right to use the trademark free of charge and has already conveyed this decision to the members.” The agency added, “We intended to allow the members to use the trademark without cost for any activities they agree on, including unit or solo projects.”
The agency further explained, “For one member, whose exclusive contract still has approximately six months remaining, we have decided to terminate the contract early, regardless of the remaining period, as a gesture of support for their activities with their new agency. We have already communicated this intention to the member.”
The agency emphasized, “Our decision to provide the free trademark usage rights directly to the members, rather than to their new agency, was made to facilitate deeper and more seamless interactions between the members and their fans, as well as to ensure more vibrant activities for the group. We believe that granting these rights directly to ‘the members themselves,’ who are the essence of the team, is the most appropriate course of action to preserve the legacy of THE BOYZ and maintain an unhindered connection with their fans.”
Addressing claims of excessive demands, IST stated, “Reports that we demanded an unreasonable trademark fee or made demands that exceeded typical industry practices are untrue. On the contrary, we have been open to various proposals regarding the trademark rights and have only had preliminary, conventional discussions to ensure a smooth handover.”
The statement concluded with IST promising to support THE BOYZ in their future activities, saying, “Although our relationship with THE BOYZ is regretfully coming to an end, we pledge to ensure there are no obstacles to their future endeavors and sincerely wish them all the best.”
Earlier in the day, One Hundred Label, the new agency THE BOYZ is set to join, alleged, “IST attempted to negotiate the trademark rights related to THE BOYZ with conditions attached. However, due to IST’s unreasonable terms during negotiations, we could not accept them. One Hundred Label will continue to approach the negotiations with an open mind until the contract expiration date, December 5.”
THE BOYZ, who debuted on December 6, 2017, will conclude their exclusive contract with IST Entertainment in December and transfer to One Hundred Label, a company founded by singer MC Mong.