All Of Konnect Entertainment Artists Reportedly Left The Agency + Agency Reportedly Heading For Shut Down

Published Categorized as Kpop
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It has been reported that Konnect Entertainment, the agency represented by singer Kang Daniel, is practically entering the process of closing down. The agency’s artists, including Chancellor, former GFRIEND member Yuju, and dance crew We Dem Boys, have all left the company without renewing their contracts.

Furthermore, most of the employees at Konnect Entertainment have also reportedly been laid off or dismissed, indicating that the company is practically closing down. Currently, the official website of Konnect Entertainment is also inaccessible.

Earlier, Kang Daniel’s side announced that they had filed a criminal complaint against the major shareholder, A. They stated, “For over five years, the client, who has been the CEO and artist of the company, made every effort to minimize the damage to the artists, employees, and third-party contract partners who have trusted and followed them like family. However, after determining that there was no other solution except holding the legal responsibility, we have proceeded with the difficult decision to file a criminal complaint.”

In particular, it was revealed that Kang Daniel learned in 2023 that a distribution contract worth over 10 billion won ($8.7 million) had been concluded without the artist’s consent, using the CEO’s name and stamp without their knowledge.

Kang Daniel’s side explained, “The contract was concluded without the artist’s consent, using the CEO’s name, and despite inquiring multiple times about the procedures and main contents of the contract, no response was received. The client personally obtained bank transaction records to confirm the facts.”

In addition, it was found that over 20 billion won ($17.4 million) was withdrawn from the agency’s account without any legal procedures such as CEO approval, board of directors’ resolution, or shareholders’ meeting, and processed as business income. During the process of verifying the company’s financial transactions, the client discovered that over 1.7 billion won ($1.5 million) was withdrawn from their personal bank account without their knowledge.

In 2019, Kang Daniel founded his own agency, Konnect Entertainment, six months after ending his activities as a member of the group Wanna One. Over the next five years, he expanded the company by recruiting artists such as Chancellor, Yuju, and We Dem Boys.

Kang Daniel also actively pursued his solo career as a singer. Recently, he has been conducting world tours in countries such as the United States, Europe, and Asia.

However, with the ongoing lawsuit against major shareholder A, Kang Daniel is ultimately heading towards the closure of his agency. He has completed the process of terminating contracts with all his artists and is expected to focus on personal activities and the lawsuit for the time being.

Source: A

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