A major financial firm has reportedly dropped NewJeans as its advertising model.
On December 13, Money Today released an exclusive report disclosing that the Shinhan Financial Group has decided to terminate the group's model contract and shut down any chances of renewal.
Industry sources also stated that the decision is the aftermath of the group's unilateral announcement of its contract termination with ADOR. Since 2023, the members have been the advertising models for the brand in its platform "SOL."
An official from Shinhan Financial Group also put out a brief statement to address the matter. Though the possibility of a renewal is now unlikely for "Super SOL," it added that the members will comply with their activities for other subsidiaries under the firm.
"The advertising contract of NewJeans with the Super SOL brand, which will conclude in December, will not be extended," the official shared.
The news also comes after the Korea Music Content Association (KMCA) demanded music and award shows in the K-pop industry to boycott NewJeans, as well as ablume, composed of former FIFTY FITY members Sio, Saena, and Aran.
KMCA to encourage kpop award shows and music shows to boycott NewJeans and Ablume activities to prevent from other kpop artists make similar "tampering" attempts. pic.twitter.com/EgJ3A0gWc2
— About Music (@AboutMusicYT) December 13, 2024
The proposition was made in order to prevent K-pop artists from "tampering."
The issue was also highlighted by the organization, which plans to eliminate all possible factors or problems that can rattle the K-pop industry's foundation.
