Newzins, the contract can be terminated, but...Penalty is at least 300 billion won. [Y Record]

[Anchor]
What is Odor's position on the resignation of Min?

[Reporter]
"We regret the unilateral resignation notice from Director Min," Adore said, adding, "We will do our best to support Newgen's growth and development."

However, the possibility of a compromise between Hive and Min has disappeared, making it more likely that Newzins members will also enter a contract dispute.

Earlier on the 13th, five members of Newzins said they would terminate the exclusive contract if former CEO Min did not return within two weeks.

As a result, attention is focused on the future of Newzins.

[Anchor]
As far as I know, Newzins' contract remains, is it possible to terminate the exclusive contract?

[Reporter]
Nairdor signed a contract with Newzins back in 2022.

The contract period is seven years, which is until 2029.

However, it is not impossible to terminate the exclusive contract. You can terminate the contract if Newzins pays a penalty.

Although the terms of the exclusive contract for Newzins are not known exactly, the penalties for termination of the contract are estimated to range from at least 300 billion won to up to 600 billion won.

Excerpted from
: Lee Sun Digital News Team Editor

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