Kang Daniel Closes Down KONNECT Entertainment Amid Lawsuit Against Major Shareholder

On June 9th, Kang Daniel released a post on his personal SNS account, saying “My journey with KONNECT, which fenced me and taught me about responsibility over the past five years, has come to an end”, adding “I would like to express my deep gratitude to all the executives and staff members who have smiled and cried while leading KONNECT with me. I will never forget your hearts”.

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He calmly said, “It is so sad and regrettable that our last journey has to end with bad news, but I’m trying to work hard silently, like I’ve always been doing. This will also be the time for me to think more about a better future”.

kang daniel

Lastly, he added, “Also, my DANITYs, who must be worrying about me more than anyone else! I’ll always be with you guys as Kang Daniel. I’ll try my best to deliver good news as soon as possible, so don’t worry too much, and remember to eat well!”

Meanwhile, KONNECT Entertainment led by Kang Daniel as the CEO has effectively begun the process of closing down. Prior to this, Kang Daniel filed a criminal complaint against A, a major shareholder of KONNECT Entertainment.

Kang Daniel belatedly discovered that A signed a 10-billion-won prepaid distribution contract by stealing the CEO’s signature and stamping the company seal without informing him. The male singer revealed that at least 2 billion won had been withdrawn from the company’s account through overseas remittance and business income processing without any legal procedures, such as CEO’s approval, resolutions of the board of directors and through discussions at shareholders’ meetings.

As a result, he decided to take steps to close KONNECT Entertainment while continuing the lawsuit against A. KONNECT was managing Chancellor, Yuju and We Dem Boyz but all of them have reportedly left the company before its shutdown.