Recently, fans were saddened after Kang Daniel announced KONNECT Entertainment was officially shutting down. KONNECT Entertainment is an agency and record label founded by Kang Daniel in 2019.
On Sunday June 9, 2024, Kang Daniel announced via his SNS that his agency had ceased operations. The closure of KONNECT Entertainment after five years has become something that fans greatly regret.
The agency's closure was personally announced by Kang Daniel
Kang Daniel personally announced that his journey with KONNECT Entertainment has ended. On June 9, 2024, Kang Daniel wrote a long message on Instagram. The PARANOIA singer did not forget to mention his fans who have supported him all this time.
Here's Kang Daniel's touching message regarding his agency's closure:
“Hello, this is Kang Daniel. Half of the year has passed. The weather has become hotter and I realize that time has passed quickly. My journey with KONNCECT, which has been my home for five years and taught me the meaning of responsibility, has come to an end.
I sincerely thank all the employees and everyone who has shared laughter, tears, and led KONNECT with me. I will never forget it. Although I feel sad and regretful to end this journey with bad news, I will continue to work diligently as I have always done.
And to DANITY who must be thinking of me more than anyone else. I will continue to be by your side as Kang Daniel in the future. I will bring good news soon, so don't worry too much and make sure you eat well. Thank you," Kang Daniel wrote.
The root of the problem came from embezzlement of funds by shareholders
The internal problems that occurred in the agency founded by Kang Daniel have surfaced since some time ago. Reported by Seoul Economic Daily , Kang Daniel's legal representative stated that the singer had filed a criminal complaint with the Seoul Metropolitan Police Agency on May 20, 2024.
The lawsuit was filed against KONNECT shareholder named Mr. A for embezzlement, breach of trust, fraud, and more. It was stated that Mr. A had used Kang Daniel's name and affixed the company's stamp to sign a contract worth 10 billion won in December 2022.
This was reportedly known by Kang Daniel as the CEO of KONNECT Entertainment. Not only that, it was also reported that Mr. A had withdrawn around 2 billion won from the agency's account and sent the money abroad.
Kang Daniel himself founded the KONNECT agency in 2019 where he is the CEO and artist under it. However, the majority of KONNECT Entertainment shares are held by one person (Mr. A) who owns 70 percent of the company's shares.
All artists have left KONNECT before it officially closed
Following the news of embezzlement by KONNECT Entertainment shareholders, several artists have reportedly ended their contracts with the agency. It was also reported that Kang Daniel's contract ends in June 2024, which coincides with the agency's closure.
During Kang Daniel's agency's existence, there were three other artists who joined as soloists, namely CL ex-2NE1, Chancellor, and Yuju ex-GFRIEND. In addition, there was also a dance crew called WE DEM BOYZ who signed a contract in 2022 and left a year later.
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