JTBC Resumes Payment of Overdue Appearance Fees..."Apologizes for Payment Delays"
From Dispatch and Service Fees to Variety Show Appearance Fees with Court Approval
JTBC has resumed payments of overdue appearance fees and production costs. In a statement released on July 8, the company announced, "Last week, we received court approval and completed payments for previously unpaid dispatch fees and service fees, which had been withheld due to the court's approval process."
Separately, based on a recently granted comprehensive approval, the company also paid some appearance fees for variety shows and external production costs on the same day. JTBC added, "We apologize to cast members and partner companies for the unavoidable delay in payments while awaiting the court's decision."
On June 12, JTBC declared a default after failing to repay 20.6 billion won in securitized borrowings by the due date. Subsequently, four affiliates—JoongAng Holdings, Contentree JoongAng, JoongAng P&I, and Megabox JoongAng—along with JTBC each filed for commencement of rehabilitation procedures. On June 30, the Seoul Bankruptcy Court decided to begin rehabilitation procedures for the four affiliates, excluding JTBC.
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After the commencement of rehabilitation procedures, cast members of major programs such as "Please Take Care of My Refrigerator," "Knowing Bros," and "Divorce Consideration Camp" did not receive their appearance fees on the scheduled payment dates. In response, on July 6, the Korea Broadcasting Actors Union issued a statement urging JTBC to transparently disclose the current status of unpaid fees and payment schedules, stating that the scale of damages amounts to several billion won.
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