Kim Ho-jung's Agency Changes Name, Not Closing... "No Trickery"

"Decided Not to Continue Entertainment Business, Changed Name"

It has been revealed that Saenggak Entertainment, the agency to which trot singer Kim Ho-joong, who was arrested and indicted on charges of drunk driving and hit-and-run, belongs, has changed its company name rather than closing down, and the agency has issued a statement regarding this matter.

On the 20th, Saenggak Entertainment released a statement saying, "Our company recently changed its name from Saenggak Entertainment to Art M&C." They continued, "In May, we decided not to continue the management business after causing social controversy," and explained, "As a result, shareholders agreed not to use the name Saenggak Entertainment, leading to the name change." They added, "The name change only signifies that we are no longer conducting management business, and there is no hidden intention or trick behind this. We kindly ask for restraint from speculative reporting on this matter." The newly renamed Saenggak Entertainment appointed Mr. A, who was Kim Ho-joong’s dedicated manager, as a new internal director. Comedian Jung Chan-woo, a major shareholder, reportedly remains listed as an auditor.

Earlier, on the 9th, singer Kim Ho-joong was driving his own car when he crossed the center line on a road in Apgujeong-dong, Gangnam-gu, Seoul, and collided with a taxi coming from the opposite direction. After the accident, it was revealed that the agency’s CEO and managers attempted to cover up Kim Ho-joong’s drunk driving by swapping drivers and removing the black box memory card, which intensified the controversy. Subsequently, on the 24th of last month, Kim Ho-joong underwent a detention warrant hearing, and detention warrants were issued for Saenggak Entertainment’s CEO Lee Kwang-deuk and director Jeon. All three are under detention and are being investigated. CEO Lee is accused of instructing a manager to falsely confess, while Jeon is charged with removing and destroying the black box memory card.

Following this, Saenggak Entertainment appeared to hint at a shutdown process. In fact, CEO Lee, who was arrested along with Kim Ho-joong, resigned on the 30th of last month, and artists such as Hong Ji-yoon, Young-gi, Kang Ye-seul, Geum Jan-di, and actor Son Ho-jun left the company one after another, making it seem like the company was heading toward closure. At that time, Saenggak Entertainment stated, "We have decided on the resignation of all employees and a change in the CEO position, and we are reviewing whether to continue the management business," adding, "We intend to terminate exclusive contracts without any conditions upon consultation, prioritizing the opinions of our affiliated artists."

Meanwhile, on the 18th, the Criminal Division 5 of the Seoul Central District Prosecutors’ Office (Chief Prosecutor Kim Tae-heon) indicted Kim Ho-joong on charges of dangerous driving causing injury and hit-and-run under the Act on the Aggravated Punishment of Specific Crimes, failure to take measures after an accident under the Road Traffic Act, and aiding the escape of a criminal.