Konnect Entertainment, represented by singer KANG DANIEL, has practically entered the process of closing its activities. Its singers left the company without renewing their contract.
According to a K-pop official on May 21, CHANCELLOR, former GFRIEND member YUJU and Dance Crew WE DEM BOYZ left the company without renewing their contracts after ending their contracts.
Additionally, most of Konnect Entertainment‘s employees have been fired and/or resigned, and the agency has all but begun the process of shutting down the company.
Currently, the official website of Konnect Entertainment is also inaccessible. HERE
Earlier, KANG DANIEL said on the 20th that he had filed a criminal complaint against majority shareholder A. “The young man, who has been protecting the company as CEO and artist for five years, has made strenuous efforts since more than a year, before proceeding with the criminal complaint in order to minimize the damage caused to the artists, employees and subcontractors who trusted and followed the company like family“, it was declared.
“However, we decided that there was no other solution than to seek legal accountability, which is why we filed a criminal complaint with a heavy heart.” – Lawyer of KANG DANIEL
In particular, KANG DANIEL learned in 2023 that a 10 billion won early distribution contract was signed using the CEO’s name and affixing the company seal, without his knowledge.
KANG DANIEL explained: “The contract was signed without the approval of the CEO or the consent of the artist, and we inquired several times about the procedure and the main content of the contract, but we did not receive any response, and the customer came forward and confirmed the fact by providing the details of the bank transaction.“
Additionally, it was confirmed that at least 2 billion won was withdrawn from the agency’s account through overseas remittances and processing of business income without any due process such as approval of the CEO, validation of the board of directors and that of the general shareholders. Upon checking the details of the company’s financial transactions, the customer confirmed that more than 1.7 billion won had been withdrawn from his bank account without his knowledge.
KANG DANIEL established a one-man agency, Konnect Entertainment, six months after ending operations with his group WANNA ONE in 2019. Over the next five years, he grew the business by recruiting CHANCELLOR, YUJU and WE DEM BOYS .
He has also performed actively as a solo artist. Recently, he has performed world tours in America, Europe and Asia.
However, KANG DANIEL will continue the lawsuit with the main shareholder “A”, and the company is in the process of closing its doors. All contracts with singers belonging to the agency have reportedly been terminated, and it is expected that it will focus on solo activities and the trial for the time being.
Journalist: Shawn
Translator: Shawn
Source: SNS KONNECT Entertainment, Médias coréens, KANG DANIEL
