Yonhap reported that more than half of the South Korea artists signed 10 years and above contract with their company.

The Congress Administrative Committee member said on the 8th October that according to a report that they received from the Korea Fair Trade Commission, from last year November to this year April, among 90 South Korea artists, 47 of them (52.2%) signed a long term contract with their company after Year 1990.

Among these 90 artists, 37 of them were male singers. 22 of them (59.4%) signed a 10 years contract with their company. There was also a female singer who even signed a 17 years contract with her company.

The committee member added: “They investigated a total of 580 artists and found out that 55 of them (9.5%) signed 10 years or above contracts with their company. Among them, 29.6% are singers, 3.2% are actors. The ratio is 10:1. 96 of them (16.5%) signed 7 years or above contracts with their company.

When Korean Boys Band TVXQ unfair contract has been exposed, the Korea Fair Trade Commission has published the relevant standard contracts that more than 7 years contracts are prohibit.

Source From: Yonhap