According to a recent article in Maeil Business Star Today, MLD Entertainment, the agency of popular K-pop group MOMOLAND, is currently experiencing significant financial challenges.
According to reports, the agency has been accused of postponing employee salary payments, resulting in a significant number of employees leaving. Currently, it is believed that less than five employees are still working for the company.
The issue has reached a level where previous employees who left because they were not paid have yet to receive their rightful severance compensation.
Despite the fact that complaints have been filed with the Labor Office, those affected have only received partial payments, further fueling their discontent.
MLD Entertainment, founded in 2015, gained recognition as the agency behind MOMOLAND, who gained global recognition with their popular songs “BBoom BBoom”and “BAAM.”
Nevertheless, the agency reached a crucial point in January of last year when the group officially ceased their activities, signifying a significant turning point.
Despite MLD Entertainment’s attempts to diversify its roster by adding idol groups such as TFN, Lapillus, and HORI7ON, they were unable to achieve the same level of success as MOMOLAND.
TFN, in particular, has encountered difficulties and commenced the process of disbandment earlier this year, indicating continued unpredictability within the organization.
According to reports, CEO Lee Hyung-jin is currently in the Philippines, with a specific focus on overseeing HORI7ON, a Filipino group under the management of MLD.
Additionally, MLD has recently signed notable artists such as Gill and Lee Seung-Chul. However, their activities have been noticeably subdued, further contributing to the agency’s troubles.
Furthermore, MLD Entertainment also encompasses CocaNButter, a dance crew known for their participation on Mnet’s “Street Woman Fighter.”This further demonstrates the agency’s involvement in various entertainment endeavors beyond just managing idol groups.
The recent financial troubles at MLD Entertainment highlight the larger difficulties faced by the K-pop industry, where smaller agencies frequently face economic instability due to fierce competition and unpredictable market fluctuations.
Despite ongoing concerns about the future of MLD, stakeholders and fans eagerly anticipate further developments, hoping for a resolution to the crisis that has taken hold of the agency.
Some of the netizens’ responses to the situation are as follows:
that explains why Chanty is doing gaming streams on TikTok
That momoland karma is crazy! I feel bad for lapillus though.
Should’ve treated momoland better but i wish the best for the groups still there. Hope they can go somewhere else
They had a very successful group in Momoland. The way they mismanaged them is one for the books.
after what happened to Momoland, it’s already a HUGE red flag idk why that company didn’t go down already
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