The latest news comes from one of the singers who graduated from the Mnet competition 'Produce 101,' namely Kang Daniel. Reporting from Allkpop media on Tuesday May 21, 2024, several people in the music industry reported that the Konnect Entertainment agency (founded by singer Kang Daniel) was on the verge of collapse.
People in the industry revealed that the company started by Kang Daniel would experience closure. The report on the closure of the agency was allegedly because all of the agency's employees had been dismissed or resigned.
Apart from agency employees, affiliated artists also left Konnect Entertainment to pursue their own paths. Some industry insiders also mentioned that the remaining shareholders of Konnect Entertainment have also decided to part ways with all affiliated artists amidst the legal dispute involving Kang Daniel.
Unlike several artists who decided to separate, Kang Daniel himself still has a remaining contract. After his contract expires next month, Kang Daniel will reportedly plan to leave the company on good terms rather than continue his activities as a solo artist under a single agency.
As a result of all this commotion, it seems the company will naturally proceed
towards closure. Meanwhile, it was reported that around 20 Konnect Entertainment employees had been laid off or resigned, and the company's company vehicles had been scrapped some time ago.
It was also revealed that the agency's office in Sinsa-dong, Gangnam-gu, Seoul, was cleaned earlier this year. Kang Daniel himself founded the Konnect Entertainment company in June 2019 as his personal agency.
Although it started as Kang Daniel's sole agency, the company later also recruited several well-known artists such as Chancellor, former GFriend member Yuju, and the dance crew, WE DEM BOYZ, to work with the company. Meanwhile, reported by Allkpop on Monday May 20, 2024 Kang Daniel is currently facing legal problems.
He has taken criminal charges against his agency's main shareholder, Konnect Entertainment. Kang Daniel claims that major shareholders used their positions to embezzle company funds and fake company seals to sign music distribution contracts worth 10 billion KRW.
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