Aftermath of Drunk Driving Hit-and-Run... "Ultimately Leading to Business Closure"
Following singer Kim Ho-jung's hit-and-run drunk driving accident, his agency Saenggak Entertainment has been embroiled in a cover-up controversy. Meanwhile, its signed artists are gradually terminating their exclusive contracts and leaving one by one.
On the 4th, Yonhap News reported, citing sources in the music industry, that trot singer Geum Jandi ended her exclusive contract as of that day. Geum Jandi debuted in 2000 with "Yeongjongdo Seagull" and "Wet Glass Window," and released hit songs such as "Orabeoni."
Geum Jandi, who is known to plan a solo career for the time being, reportedly intends to sign with a good agency if she finds a suitable opportunity in the future.
On the same day, Young-gi, also formerly signed with the agency, posted on his social media (SNS), "My official contract expires at the end of May, and by mutual agreement, I have decided to part ways with Saenggak Entertainment without renewing the contract."
He added, "I spent five years with many staff and colleagues. As an early member who started together, there are some regrets, but we decided to support each other's futures and walk our separate paths from today."
Jung Da-kyung also announced that she would be leaving Saenggak Entertainment. Through SNS, Jung Da-kyung stated, "After consulting with the company and much deliberation, I have decided to terminate my exclusive contract with Saenggak Entertainment as of today. I sincerely thank Saenggak Entertainment for their wholehearted support, wishing me well more than anyone else during this time."
Earlier on the 2nd, another trot singer under Saenggak Entertainment, Hong Ji-yoon, announced her departure from the agency. She said, "With the company's wish for my success, I have decided to leave Saenggak Entertainment as of today (the 2nd)."
Currently, Saenggak Entertainment has announced on the 27th that it will effectively enter the process of closure, as not only Kim Ho-jung but also CEO Lee Kwang-deuk and Director Jeon Mo have been arrested in connection with the drunk driving hit-and-run scandal, leading to the resignation of all employees and changes in the CEO position.
At that time, the company stated, "We are also reviewing whether to continue the management business in the future," and "We plan to terminate exclusive contracts without any conditions upon consultation, prioritizing the opinions of our signed artists."
As Saenggak Entertainment faced allegations of attempting to conceal Kim Ho-jung's drunk driving charges and was revealed to have significant debts including advance payments amounting to around 10 billion won, some speculated that the agency is effectively moving toward closure.
Meanwhile, Saenggak Entertainment had also represented actors Son Ho-jun, Kim Kwang-gyu, Kim Seung-hyun, singers Ahn Sung-hoon, Ahn Ye-in, comedians Kim Won-hyo, Heo Kyung-hwan, sportainers Bong Jung-geun, Lee Dong-gook, and boy group TAN.
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