"I heard that the minimum guarantee price for a new deal would be around that amount ($200,000)," said Lim Ji-hyun, the CEO of Munhak Sasang, adding that she doesn't know the exact amount, because the deals between such agencies and publishing companies are confidential. Munhak Sasang said it is not participating in the bidding for a new contract. Popular authors tend to receive royalties at the time of contract and additional payments are made later on if more books are sold than expected. It is known in publishing circles that the Eric Yang Agency, representing author Min Jin Lee, asked for a minimum guarantee of $200,000 in royalties as a condition for the deal. During the negotiations, the publishing company gradually retrieved the remaining copies of the book from offline bookstores and stopped selling them online on April 12. Munhak Sasang, which made the first publishing contract for a Korean version of the book here in 2018, announced its failure to renew the contract on April 21, the last day of the contract. But it has become ― and may be for some more time ― challenging to spot volumes of the two-part book on the bookshelves in Korea due to a publishing contract issue. Screenshot from Yes24įollowing the popularity of Apple TV+ drama "Pachinko," a growing number of Korean readers are seeking the Korean-translated version of the original novel. Munhak Sasang halted online sales of the best-selling novel "Pachinko" on April 13.
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