Jung Joon Young is about to lose hundreds of thousands of dollars from what is left in his bank account due to his scandal.
Because he was arrested for violating the Act on Sexual Crimes of Violence and other crimes, he is highly likely to be forced to return the contract deposit money he received from MAKEUS Entertainment and have to pay a penalty on top of that. When he signed with MAKEUS Entertainment, he received a contract deposit of ₩300 million KRW ($262,926 USD). However, his contract was terminated after just 2 months due to his involvement in the scandal.
Jung Joon Young received his ₩300 million KRW ($262,926 USD) deposit because he agreed to make various music related content and hold performances. With the influence of MAKEUS, Jung Joon Young was also in the planning process for various contents with Dingo Freestyle including a project just for him, but the plans fell through due to his involvement in the scandal.
Due to Jung Joon Young’s faults, the ₩300 million KRW ($262,926 USD) will be returned to the agency. In addition, it is a situation where he will likely have to pay a hefty fine on top of returning the contract deposit money due to breach of contract and causing huge damage to the company.
MAKEUS Entertainment has released their comment on the issue, but are keeping very tight-lipped.
It is difficult to release our position on this. Please understand. It’s difficult to say how much money Jung Joon Young would have to re-pay.
— MAKEUS Entertainment