Fantagio Music’s Internal Mess Puts ASTRO & Weki Meki At Risk
On May 11th, Woo YoungSeung, former CEO of Fantagio Music was fired by the agency’s major shareholder JC Group. The event has sparked much controversy in South Korea at the moment since the company is currently without a certified executive officer, leaving them unable to meet the requirements of the Act on the Development of the Public Culture and Arts Industry.
Woo’s dismissal is Fantagio Music’s second internal change as the founder and co-CEO Na ByungJun was fired back in 2017.
Fantagio Music received heavy criticism after the dismissal of Na ByungJun mostly because they were suspected of running the agency by illegal means. JC Group’s Wei Jie who was not qualified to become the head of the agency assumed the role of the executive. What was even more surprising was the fact that Fantagio continued to use Na ByungJun’s name as CEO even after his dismissal, in order to illegally continue running the agency. As of now, Wei Jie’s secretary Fu KangZhou has currently been appointed as the executive under Wei Jie’s orders, but this too has also been proving to be a major concern since Fu KangZhou is currently not even residing in South Korea and is unable to personally oversee the company’s operations.
Some employees loyal to Na ByungJun and Woo YoungSeung have left Fantagio for good while others have expressed intentions to go on a strike against the heads after witnessing the mess created by ‘the greed of Chinese capitalism’.
Idol group ASTRO’s upcoming comeback has reportedly been postponed due to the current situation.
As a response to the current situation, Fantagio Music released an official statement saying that the agency is currently in the process of selecting a new CEO and should be finalized sometime around the month of June.