Kang Daniel addresses end of KONNECT Entertainment: “It is unfortunate and regrettable”
K-pop idol Kang Daniel has addressed the closure of his label KONNECT Entertainment in a statement on Instagram.
Kang Daniel had founded KONNECT Entertainment in 2019, and would go on to sign artists such as Chancellor and Yuju. However, the future of the company has been unclear since May this year, after the singer filed a police report against a major shareholder on suspicions of embezzlement and breach of trust.
According to a report by Korea JoongAng Daily, the unidentified shareholder had allegedly forged Kang’s signature in order to sign on a KRW10billion advance music distribution contract without Kang’s knowledge.
The shareholder also reportedly withdrew at least KRW2billion from the company’s account through overseas remittances and business income processing methods without any formal approval from Kang, who serves the company as its CEO.
Kang Daniel has since announced that his journey with KONNECT Entertainment has “come to an end” in a statement released on Instagram over the weekend. He added that his role at the company had “provided me with a supportive environment and taught me a sense of responsibility over the past five years”.
“I want to sincerely thank all the executives, employees and associates who led KONNECT Entertainment through both the highs and lows with me. I will never forget this,” he continued. “Though it is unfortunate and regrettable to conclude this journey with such bad news, I will continue to work diligently and quietly as I have always done.”
However, he assured fans that this does not mean the end of his activities as a singer in the industry. “I will continue to be with you as Kang Daniel,” he added. “I will try to bring you good news as soon as possible, so don’t worry too much and make sure to take care of yourselves.”
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Carmen Chin
NME
