Big-name signings, unconventional contracts spark industry skepticism
Galaxy Corp.’s recent acquisition of several high-profile free-agent artists has stirred debate within the entertainment industry. Industry officials are questioning why established names are joining an agency that, while branding itself as an “AI entertainment technology company,” remains relatively unknown.
Just three weeks after signing Taemin, formerly of SHINee, reports indicate that singer Kwon Eun-bi, renowned for her success with the project girl group Iz*One, is also preparing to join Galaxy Corp.
The company’s impressive roster already boasts pop icon and actor G-Dragon, acclaimed actor Song Kang-ho, and popular TV personality Kim Jong-kook.
Industry insiders suggest that the key to these acquisitions lies in the attractive contract terms offered by Galaxy Corp.
“To successfully attract established artists, contract conditions must be exceptionally favorable,” stated a senior manager at a major K-pop agency. “This typically translates to a significant signing bonus and a revenue share heavily weighted in favor of the artist.”
In the competitive K-pop landscape, upfront signing bonuses are a common tactic to secure talent, similar to advance payments in the Western music industry. However, K-pop contracts often encompass broader and longer-term commitments.
In Kwon Eun-bi’s potential case, although unconfirmed, sources suggest Galaxy Corp. presented a signing bonus two to three times larger than offers from traditional agencies. This may have influenced her decision to leave Woollim Entertainment after more than a decade.
The deal with G-Dragon is rumored to be even more groundbreaking. According to local reports from June 2025, the artist received a staggering 20 billion won ($13.3 million) signing bonus, with approximately half structured as stock options, representing just over a 2 percent stake in the company.
Galaxy Corp. has its sights set on a US listing this year, and market analysts believe G-Dragon’s share value could potentially double if the company successfully goes public.
The potential for listing has already garnered interest from global capital markets. Senior officials from Nasdaq and the New York Stock Exchange visited Galaxy Corp. last month to evaluate its listing prospects.
Another unique aspect of G-Dragon’s contract lies in its structure. Instead of being tied to a fixed duration, the deal is reportedly based on completing 100 performances.
“Contracts typically stipulate a set timeframe, encompassing a specific number of albums and tours,” explained an official from another major label. “However, G-Dragon’s deal is said to be performance-based, encompassing concerts, fan meetings, exhibitions, and international festival appearances.”
Industry officials speculate that Galaxy Corp.’s aggressive recruitment strategy and generous compensation are primarily driven by its IPO ambitions.
They further suggest that Galaxy Corp. lacks the fundamental infrastructure usually associated with established management agencies and exhibits a lack of consistency in its artist acquisitions.
“Galaxy Corp. lacks the basic infrastructure expected of a management company,” stated an executive at a major entertainment agency. “There is no clear pattern in the artists they sign. If their goal was solely to generate revenue through performances, signing artists like Taemin or Kwon Eun-bi wouldn’t make sense.”
“From the moment they signed G-Dragon, widespread speculation has centered on their true objective being an IPO rather than genuine artist management,” the executive concluded.jaaykim
