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[News] Sports World: Blockberry Creative in Serious Financial Difficulties... (210928)

Blockberry Creative in serious financial difficulties of billions of won, including non-payment of taxes, wages, and service costs

Blockberry Creative, the agency of K-pop group LOONA, is facing a severe financial crisis which has lit a red light on LOONA’s future activities.

According to multiple music industry sources on the 28th [of September], unpaid bills towards numerous contractors and external personnel who have worked with Blockberry Creative currently range from tens to hundreds of millions of won.

These companies and workers have performed their duties diligently despite months without compensation, sometimes enduring personal financial difficulties. However, it has been confirmed that the hair, makeup and stylist agencies were recently notified by Blockberry Creative to “quit working” in a pressuring, power-abusive manner.

Cooperation among and participation of various partners are crucial to album production, but now the unseasoned operation of Blockberry Creative is causing difficulties on further album production.

According to multiple industry sources, Blockberry Creative’s financial troubles have been a longstanding problem. The financial squeeze is so severe that even internal company employees’ salary and expenses have been delayed for several months or not paid on time, and social insurance taxes have gone unpaid as well, the sources said.

Sources say that while Blockberry Creative intends to work towards improving this dire financial situation involving billions of won in back taxes, unpaid wages, and unpaid contractor fees, there is no easy resolution in sight.

There is the further concern among fans that even as Loona's member Chuu has been at the center of affection through voracious activities and adorable image, the company's finances may be putting their earnings - the most important issue for an idol - at risk.

Blockberry Creative is currently headed up by Kim Seon-hye, the wife of former CEO Lee Jong-myeong. These financial issues appear to have Loona's future activities in unclear straits.



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