CJ ENM’s CEO Heo Min Hee has formally apologized for the scandals surrounding the Produce series, and has confirmed both IZ*ONE and X1 will continue to promote together in their respective groups.
Heo Min Hee first addressed the trainees affected by the vote manipulation scandals, saying they would be compensated for the company’s actions.
We will provide financial support and support for the future promotions of the trainees who were hurt by the vote manipulation, in order to try and heal their wounds and correct our mistakes.
We will discuss in depth with the parties affected in order to come to an agreement on the compensation for the damages caused.
— Heo Min Hee
He also announced that CJ ENM would be creating a new fund to further the growth of K-Pop, using the profits from X1 and IZ*ONE.
Using the profits that CJ ENM received from the vote manipulation, along with Mnet’s cut of future profits from X1 and IZ*ONE, we will create a fund that will be used to revitalize and grow K-Pop. The current expected value of the fund is about ₩30 billion KRW ($25,945,161 USD).
— Heo Min Hee
He discussed how X1 and IZ*ONE promotions will be handled.
We are responsible for this incident, and we will support IZ*ONE and X1 resuming their activities. Considering the mental pain and burdens the members are facing, and the voices of the fans, we will do our best to make sure the groups can be active as soon as possible. As mentioned earlier, Mnet will give up our portion of the profits from the group.
— Heo Min Hee
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