,
,
,
,
, “‘Drunk driving’ singer Kim Ho-jung’s agency, Think Entertainment, was found to have a considerable debt of over 10 billion won, including advance payments.”,
,
, ‘As Think Entertainment is virtually facing closure, Kakao Entertainment, which invested 7.5 billion won to acquire a 10% stake in the company, is also unable to avoid the impact.’,
,
, ‘According to the Financial Supervisory Service’s electronic disclosure system today (28th), Think Entertainment had approximately 12.577 billion won in advance payments as of the end of December last year.’,
,
, ‘Advance payments are received by companies before selling products and are considered as liabilities.’,
,
, ‘Think Entertainment’s revenue decreased from around 25.6 billion won in 2022 to about 18.8 billion won in 2023, and its cash holdings also dropped from 9.4 billion won to 1.6 billion won during the same period.’,
,
, ‘As a result, there is speculation in some quarters that Kim Ho-jung may have been trying to press ahead with performances despite various financial controversies, including the agency’s debts.’,
,
, “Even after being charged with ‘drunk driving’, Kim Ho-jung went ahead with performances on the 18th and 19th in Changwon for ‘T-Baroti Classic Arena Tour’ and on the 23rd for ‘World Union Orchestra Super Classic: Kim Ho-jung & Primadonna’.”,
,
, ‘An industry official said, “In most cases, performances involve receiving advance payments and signing contracts,” and added, “Especially for large concerts, working with an agency and canceling a performance would incur high penalties. Kim Ho-jung must have been aware of the penalties.”‘,
,
, ‘However, with Kim Ho-jung’s arrest, Think Entertainment suffered significant losses.’,
,
, “The 24th concert appearance at ‘Super Classic’ was canceled, and the ‘T-Baroti Classic Arena Tour’ scheduled for June 1-2 in Gimcheon was also called off.”,
,
, “Think Entertainment’s CEO Lee Kwang-deok, who is charged with instructing Kim Ho-jung’s manager to make false statements, and former head Mo, who is charged with removing the memory card from the vehicle’s black box, are both currently under arrest.”,
,
, ‘As a result, Think Entertainment decided the day before to close the company by having all employees resign and changing the CEO.’,
,
, ‘The company also stated that it would unconditionally terminate exclusive contracts if requested by its affiliated artists such as group TAN, actors Kim Kwang-kyu and Son Ho-jun.’,
,
, ‘As a result, Kakao Entertainment, which invested 7.5 billion won to acquire a 10% stake in 2022, is now unable to recover its investment due to the closure of Think Entertainment.’,
,
, ‘A Kakao Entertainment official stated, “It is true that we invested 7.5 billion won,” but added, “We cannot confirm the exact extent of the damages or our future plans.”‘,
,
, ‘(Photo=Yonhap News)\n’