WM Entertainment is undergoing major internal changes following the sudden departure of its longtime leader. CEO Lee Won Min, who founded the company in 2008 and has led it for 17 years, stepped down last month amid reported management disputes and financial difficulties.
According to industry sources on September 12, WM’s parent company, RBW, removed Lee from his position in early August. RBW, which holds over 80% of WM’s shares, is said to have taken the step in response to declining profitability and differences in strategic direction.
Lee Won Min is widely credited with guiding WM Entertainment from a small agency to a respected mid-sized label. Under his leadership, the company successfully produced idol groups including B1A4, Oh My Girl, and ONF. His sudden dismissal, however, has reportedly created internal instability, with several key executives choosing to leave the company.
Today, WM also announced the departure of Lee Chaeyeon, formerly of IZ*ONE, who ended her exclusive contract after discussions with the agency. The agency stated that it will continue supporting her activities in the short term to ensure scheduled projects proceed smoothly.
WM Entertainment initially maintained its independent structure even after RBW acquired it in April 2021. However, tensions are believed to have surfaced between Lee Woo Min and RBW executives regarding the launch of a new group, particularly as the entertainment industry continues to face a downturn. Analysts note that RBW has now moved to directly implement management reforms and restructure the label to improve performance.
Following Lee’s exit, RBW co-CEO Kim Jin-woo has taken over leadership of WM Entertainment. The agency is now being reorganized under a management system that aligns more closely with RBW’s direction.
Currently, WM Entertainment’s roster includes B1A4, Oh My Girl, ONF, Sandeul, and USPEER (launched in June).
