Less encouraging news came from the soloist from South Korea, Kang Daniel, who almost lost his company, Konnect Entertainment. Currently, Konnect Entertainment is on the verge of closing and all of its artists will leave or have already left the company, including Kang Daniel himself.
Adapting Koreaboo on Tuesday May 21, 2024, based on an exclusive report from Star News, all Konnect Entertainment artists have decided to leave the company. Yuju, who joined Konnect Entertainment in September 2021, reportedly ended his time with the company in mid-April.
The WE DEM BOYZ dance team, which had signed a contract with the company in November 2022, also left just one year later. They expressed their intention to terminate the contract in November 2023 and went through the process.
Singer and producer Chancellor is also reported to have left Kang Daniel's company. Due to the large number of artists leaving the company, it is now thought that the Konnect Entertainment building is empty and without occupants.
Kang Daniel formed Konnect Entertainment in June 2019. He serves as CEO and artist of the company. However, the majority owner of Konnect Entertainment is an individual who owns 70% of the shares in the company. Kang Daniel is currently suing the individual for falsifying documents, embezzling money from the company, and other charges.
The loss suffered by Kang Daniel due to the bad treatment of shareholders was 14 billion won. Therefore, Kang Daniel will reportedly terminate his contract with Konnect Entertainment after his contract expires in early June and will also step down from his position as CEO.
Because of this, Konnect Entertainment was declared to be going out of business, because all of its artists were leaving. There are also only about 20 company employees left and the company building in the Sinsa neighborhood in Gangnam has been vacated. Kang Daniel himself is a singer born in 1996 who started his career in the entertainment industry in 2017.
With various hard efforts, Kang Daniel succeeded in building his own company which, unfortunately, ended up going bankrupt. Fans only hope that all the problems faced by the idol will be resolved quickly and everything will return to normal.
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