ATTRAKT
South Korean record label developing K-pop artists.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor investor investor | €0.0 | round | |
* | KRW10.0b | Early VC | |
| Total Funding | 000k | ||
ATTRAKT is a South Korean record label and entertainment agency established on June 17, 2021, by Jeon Hong-joon. The company focuses on discovering and nurturing K-pop talent for the global market. Jeon Hong-joon, also known as Oscar Chun, serves as the CEO and has an extensive background in the Korean entertainment industry, having held executive roles at various entertainment companies since 2004 and received awards for his contributions from the Ministry of Culture, Sports and Tourism.
The company's business model revolves around the traditional operations of a record label, including artist training, music production, promotion, and management. Revenue is generated from music sales, concert tours, merchandise, and endorsement deals for its artists. ATTRAKT gained international recognition with its first girl group, FIFTY FIFTY, which debuted in November 2022. Their single "Cupid," released in February 2023, became a viral success, making FIFTY FIFTY the fastest K-pop group to enter the US Billboard Hot 100 and the UK Singles Chart.
In June 2023, the agency became embroiled in a significant legal dispute with the original members of FIFTY FIFTY, who filed to suspend their contracts, citing a lack of financial transparency and other issues. The conflict led to a court battle where the court ultimately dismissed the members' injunction request. Following the legal proceedings, one member, Keena, returned to the agency, while ATTRAKT terminated the contracts of the other three members in October 2023. The company has since filed a multi-billion won lawsuit against the former members and other parties allegedly involved in the contract dispute. Despite the turmoil, ATTRAKT reorganized FIFTY FIFTY, adding four new members to join Keena, and the new lineup returned in September 2024. The agency is also expanding its roster and announced global auditions in early 2025 to form a new boy group.
Keywords: K-pop record label, music production, artist management, South Korean entertainment, FIFTY FIFTY, Jeon Hong-joon, girl group, global audition, Cupid viral hit, entertainment agency, artist development, talent management, K-pop music, Billboard Hot 100, contract dispute, Keena, Oscar Chun, artist promotion, music content, global project