Earlier today, reports were swirling around the Internet claiming that ZE:A member Im Siwan had signed an FA contract.
An FA contract is a “Free Agent” contract, and is generally considered preferable to a group contract as it allows the person under contract to collect all income for individual activities, rather than splitting earnings amongst other members of a group even if just the one person received an endorsement, acting gig, or appearance fee. It also allows the individual to more freely pursue the activities and schedules that they prefer, rather than depending on other group members’ schedules and preferences.
Im Siwan is one of the more prominent members of ZE:A due to his successful acting career, and it seems that this has led many to assume that he is looking to sign an FA contract rather than a group contract with Star Empire Entertainment once his group contract with ZE:A expires.
Star Empire has neither refuted nor confirmed these reports, but they have made the following statement: “Nothing has been decided about an FA contract with Im Siwan. We are currently still in constant discussion. We are also in discussion with the other ZE:A members about contract renewals.”
Reportedly, ZE:A’s contracts with Star Empire Entertainment expire at the end of December 2016, so moonROK will certainly have more updates on the group’s legal situation as the time nears. Until then, stick around for more updates on all of your favorite Kpop artists and idols.”
Source: Herald Pop
Tags: Im Siwan Legal Star Empire Entertainment ZE:A