Kang Daniel Closes Down KONNECT Entertainment Amid Lawsuit Against Major Shareholder

On June 9th, Kang Daniel shared a message on his personal SNS account announcing the end of his 5-year journey with KONNECT. He expressed his gratitude to the executives and staff who supported him and taught him about responsibility during his time with the company. He also thanked them for their smiles and tears while leading KONNECT together. Their dedication will always be remembered.

He spoke calmly, expressing his sadness and regret at the unfortunate end to our last journey. Despite this, he remained dedicated to silently working hard, as he always has. He saw this as an opportunity to reflect on a brighter future ahead.

Finally, he reassured, “I want to address my beloved DANITYs who may be concerned about me the most. As Kang Daniel, I will always be by your side. I promise to share positive updates as soon as I can, so please don’t fret and make sure to take care of yourselves by eating well.”

Meanwhile, KONNECT Entertainment, with Kang Daniel as its CEO, has effectively initiated the process of shutting down. Before this, Kang Daniel had filed a criminal complaint against A, a major shareholder in KONNECT Entertainment.

Upon further investigation, Kang Daniel learned that A had fraudulently obtained a 10-billion-won prepaid distribution contract by forging the CEO’s signature and using the company seal without his knowledge. The male singer also uncovered that at least 2 billion won had been illegally withdrawn from the company’s account through overseas remittance and business income processing, without proper procedures such as approval from the CEO or board of directors, or discussions at shareholders’ meetings.

In response, he chose to pursue the closure of KONNECT Entertainment and also proceeded with his lawsuit against A. Although KONNECT had been managing Chancellor, Yuju, and We Dem Boyz, all three had supposedly departed the company before its eventual shutdown.