K-pop has had a meteoric rise on the music scene in recent years, resulting in a lot of money being pumped into the industry. While the industry is literally worth many billions (in Korean won), the hard working artists and producers aren't receiving much of this hard-earned moolah for their work.
According to isplus, four of Korea's big music sites - Genie, Melon, Mnet, and Bugs - owe more than 17 billion won in royalties to producers, artists, and performers from the past four years. The report notes that this amount breaks down to 9.7 billion from Melon, 3.4 billion from Genie, 2.3 billion from Bugs, and 2.4 billion from Mnet.
Given the high amount of royalties owed, Melon have responded by saying that it is working with related agencies in an attempt to resolve the high amount of unpaid money.
Tune into Boy Band Fridays on SBS PopAsia Digital Radio!
Listen in 24/7 on Digital Radio, by downloading our free mobile app or by streaming live here on our website.
Download the app here: