Cha Eun-woo and Ong Seong-wu's Agency Fantagio Resolves Management Dispute... "Agreement on Joint Management"

[Asia Economy Reporter Jang Hyowon] Fantagio, a KOSDAQ-listed company (CEO Park Haeseon), announced on the 9th that all management disputes have been resolved following a smooth agreement between the current management and the largest shareholder, L&A Holdings (CEO Park Seonhu).

According to Fantagio, the current management and the largest shareholder met yesterday afternoon at Fantagio headquarters in Gangnam-gu, Seoul, and reached a final agreement to withdraw all lawsuits related to the management disputes raised by both parties.

The dispute began in April when L&A Holdings acquired the largest shareholder status from the Chinese-backed largest shareholder Gold Finance Korea. Although the litigation intensified due to misunderstandings between the new shareholder and management, they have agreed to jointly manage the company moving forward.

Both parties decided to pool Fantagio's capabilities, which include idol groups ASTRO and Weki Meki as well as many actors, to invest capital and resources for the 'Global Hallyu' movement.

Active activities of affiliated celebrities will also continue. Ong Seongwu will star as the lead in JTBC's Friday-Saturday drama , premiering on the 25th. ASTRO member Cha Eunwoo is attracting attention as the lead in tvN's drama , which adapts a popular webtoon in the second half of the year.

Additionally, ASTRO members Moonbin and Sanha will release their first mini-album as a unit on the 14th. Another ASTRO member, MJ, appeared in the musical .

Girl group Weki Meki plans to release a mini-album and resume activities in the second half of the year. Weki Meki is an eight-member group led by Produce 101 alumni Kim Doyeon and Choi Yoojung. Recently, they have received favorable offers from Japanese record and management companies to promote in Japan, solidifying their footing as a Hallyu group.

Park Haejin, CEO of Fantagio, said, “The major shareholder L&A Holdings will focus on discovering new business areas and securing funds necessary for corporate operations,” adding, “Going forward, Fantagio will combine the management know-how accumulated on the ground, solid capitalist backing, and the power of stars centered on actors and idols to grow into another noteworthy entertainment group.”