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On Tuesday, May 20, the Korean media outlet Star News released an exclusive report on Kang Daniel's agency, KONNECT Entertainment. The report explained that all the artists housed under the agency have allegedly decided to leave KONNECT Entertainment. The soloist Yuju, the singer and producer Chancellor, and the dance crew team, WE DEM BOYZ, both have reportedly left the company.
Additionally, though Kang Daniel founded KONNECT Entertainment, he's not the major shareholder of the agency. Therefore, his contract with the agency is also expected to end soon, making him another artist who'll be departing the agency. Therefore, due to the lack of artists to maintain and run the company, KONNECT Entertainment is on the verge of shutting down.
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On the other hand, the founder of the agency, Kang Daniel, is currently suing the major shareholder of KONNECT Entertainment.
The idol stated that an individual who owns around 70% of the company's stake has been involved in falsifying documents, embezzling money from the company, and other illegal activities. With a pile of concerns surrounding the agency, its continued functioning in the future is under threat.
Star News reveals the possible shutdown of KONNECT Entertainment following the departure of its artists
Kang Daniel founded KONNECT Entertainment in 2019, and it is based in Gangnam District in Seoul, South Korea. The entertainment agency houses a total of three music artists and one dance group. They are Kang Daniel, Yuju, Chancellor, and the dance crew team, WE DEM BOYZ.
However, according to a recent report from the Korean media outlet Star News, all of these artists have either already terminated their contracts or are about to part ways with the agency. Yuju, the female soloist under the agency, joined KONNECT Entertainment in 2021. However, she left the agency in mid-April of 2024.
The dance team, WE DEM BOYZ, who joined the agency around November 2022, communicated their interest in terminating their contract in November 2023 and eventually went through with the same. On the other hand, the singer and producer, Chancellor, has also reportedly left the agency.
Kang Daniel, who is also an artist under the company, will be terminating his contract in early June. His departure will follow the end of his contract with KONNECT Entertainment, which is scheduled for June.
On the other hand, though the idol founded the agency and stands as its CEO, he is not the major shareholder. An anonymous individual owns about 70% of KONNECT Entertainment's stake. Recently, the idol has been suing him on several charges.
He reported a complaint to the Seoul Metropolitan Police Agency about the individual on charges related to violations of criminal law and fraud. The idol expressed that the individual stole his identity and stamped a seal on the advance distribution contract in December 2022. As a result, the idol and the agency suffered losses.
Therefore, the idol announced that he'd be parting ways with KONNECT Entertainment. On the other hand, given that the agency only has around 20 employees working under it, it's most likely expected to shut down or go out of business due to the lack of artists.
