This study examines the entertainment industry, especially, among others, entertainment management business which involves most complicated interests among concerned players in Korea. Entertainment management business in Korea has a couple of unique features when compared with other countries. First, entertainment management companies carry out function of management along with agency together, whereas these two different functions are separated in developed countries in the field of entertainment business, like in USA. Second, entertainment management companies tend to get involved in producing movies, TV programs and music albums as well as management and agency business of entertainers. Third, it is common to giv to entertainers an advance payment for exclusive management contract by a pertinent management company. Lastly, entertainment management business has a characteristic similar to that of venture industry which has incubating role and has high-risk high-return feature. For these unique reasons in Korea, disputes arise very frequently between entertainers and management companies. In the meantime, Korea Fair Trade Commission (KFTC), one of the Government agencies, has published a standard model form of Exclusive Contract for Entertainment Management (hereinafter referred to as "Exclusive Contract") on 6 July 2009, to eliminate some types of unfairness that placed entertainers at disadvantage such as forced PR activities or activities without payment, excessive privacy infringement and exemption of payment after the termination of the exclusive contract. In the dispute resolution clause of the said model form, parties can choose either litigation or arbitration. As far as disputes related to exclusive contract for entertainment management are concerned, it is desirable to resolve disputes by arbitration than litigation. Privacy and speediness of dispute resolution are most important factors when celebrities are involved. Public image is directly linked to celebrities` reputation and commercial opportunity, and furthermore, to their income. Therefore, it is very timely to examine the entertainment management business in Korea and arbitration appropriateness with Exclusive Contract of Entertainment Management on this paper.