Singer Kang Daniel recently took legal action by filing a criminal complaint against the majority shareholder of his agency, Konnect Entertainment, for 14 billion won.
Following this development, it has come to light that several other artists have chosen to part ways with Konnect Entertainment.
As reported by StarNews on May 1, Yuju, formerly of GFriend, has officially parted ways with Konnect Entertainment after choosing not to extend her contract last month. Similarly, We Dem Boyz (WDBZ), a dance team, started the process of terminating their contract with Konnect Entertainment late last year. In addition, Chancellor, a singer and producer, has also reportedly left the label.
Established in 2019, Konnect Entertainment, is facing internal issues. On May 20, the 27-year-old singer filed a police complaint against the agency’s majority shareholder, Mr. A, accusing him of forging personal documents. As a result, several artists have terminated their contracts and left the agency, amid the internal turmoil.
Kang Daniel has taken legal action against Mr. A, the majority shareholder of Konnect Entertainment, filing a complaint with the Seoul Metropolitan Police Agency. The charges include forgery, embezzlement, breach of trust, and computer fraud.
The issue revolves around a 10 billion won advance distribution contract signed in December 2022 without Kang’s consent. Additionally, Mr. A is accused of embezzling at least 2 billion won from the agency’s overseas account without proper procedures.
He has filed a complaint against Mr. A, who holds a significant 70% stake in the company, citing concerns over Mr. A’s actions and seeking to address the issues through legal channels.
Lastly, Kang Daniel is expected to step down as a CEO of Konnect Entertainment with his exclusive contract expiring in early June.