K-pop idol group The Boyz, which boasts a global fanbase, has filed for a temporary suspension of their exclusive contract with their agency, One Hundred Label. This comes as MBC's 'PD Notebook' focuses on various allegations surrounding the company.
The Boyz have taken legal action, claiming they have not received settlement payments for several months. This has led to other artists under the same agency, including Lee Mujin, Chen Baekhyun, and Lee Seung-gi, also terminating their contracts, escalating the situation.
One Hundred Label is an entertainment company where MC Mong is involved in production, and Chairman Cha Ga-won is the primary investor. Known for amassing significant assets through the construction industry, Chairman Cha entered the entertainment sector in 2023, quickly gaining attention by signing prominent artists like SHINee's Taemin and EXO's Chen, Baekhyun, and Xiumin.
However, beneath its glamorous exterior, the company faces serious allegations regarding unpaid settlements. According to 'PD Notebook,' One Hundred Label and its affiliates received over 115 billion won in advance payments. This money was paid upfront by record distributors and concert planners who believed in the intellectual property value of the artists. Yet, some artists are demanding contract terminations due to not receiving their payments.
The production team of 'PD Notebook' claims to have obtained three years' worth of accounting records from an insider who closely managed the company's finances. These documents reportedly indicate that large sums of advance payments were transferred from the company's accounts to Chairman Cha's personal account.
While tracing the flow of company funds, 'PD Notebook' also received tips suggesting that some of this money was funneled to MC Mong. The informant alleged that these funds were used for MC Mong's overseas gambling activities.
In response, MC Mong strongly denied the allegations during a TikTok live broadcast, stating, "Company funds for illegal gambling? What nonsense is this? Check my accounts!" He directly criticized 'PD Notebook.'
However, 'PD Notebook' claims to have captured evidence of tens of billions of won being transferred to Las Vegas through illegal currency exchanges. Allegations have also emerged that MC Mong and Chairman Cha used a private jet provided by a casino and stayed in luxury villas while accessing exclusive gaming rooms.
The fallout from the unpaid settlements extends beyond the artists. The production team reported that external staff, including freelance cameramen, costume cleaners, and cleaning assistants for idol accommodations, are also voicing their grievances. Some have reportedly had to sell equipment or have their vehicles seized due to unpaid production costs. The number of confirmed victims is in the hundreds, with the total damages estimated to exceed 10 billion won.
Ahead of the 'PD Notebook' broadcast, One Hundred Label announced a firm stance against the spread of false information and malicious posts. The company's legal representative stated, "We are acutely aware of the indiscriminate dissemination of defamatory, false, and insulting posts, and we will take legal action."
Chairman Cha Ga-won is also expected to address the large-scale unpaid settlement issue directly in front of the 'PD Notebook' cameras.
What has been happening behind the glamorous facade of the K-pop industry? The episode titled 'MC Mong and Chairman's K-pop Trade Secrets' will air today at 10:20 PM.
* This article has been translated by AI.
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