A Company Worth 100 Billion Won Collapsed Because of Kim Ho-joong! From Son Ho-jun to Hong Ji-yoon, Everyone Left.
Singer Kim Ho-joong (33) caused a major upheaval in his agency, Think Entertainment, due to his drunk driving and hit-and-run incident. As a result, many artists signed with Think Entertainment are now forced to find new agencies. The company is effectively on the path to dissolution following the scandal involving Kim Ho-joong.
Artists Leaving Think Entertainment
Recently, numerous artists have announced their departure from Think Entertainment. The agency, apart from Kim Ho-joong, housed many celebrities including actors Son Ho-jun, Kim Kwang-kyu, Lee Cheol-min, Gong Jung-hwan, Kim Seung-hyun, Kim Ho-chang, comedian Heo Kyung-hwan, broadcaster Ahn Ji-hwan, culinary researcher Jung Ho-young, sports commentator Bong Jung-geun, former soccer player Lee Dong-gook, announcer Kim Sun-geun, singers Han Young, Geum Jan-di, Hong Ji-yoon, Ahn Sung-hoon, Young-ki, Jung Da-kyung, Kang Ye-seul, Ahn Ye-in, and the group T.A.N.
Artists Announcing Their Departures
On the 4th, comedian and singer Young-ki stated, “My official contract period ended in late May, and after mutual agreement, we decided not to renew the contract and go our separate ways.” He added, “I spent five years with many staff and colleagues. As a founding member from the beginning, it’s a bit regretful, but we decided to support each other’s futures and walk our separate paths.”
On the same day, singer Jung Da-kyung also announced the end of her exclusive contract with the agency, expressing gratitude for the support she received from Think Entertainment. She stated, “I am grateful for the unreserved support from Think Entertainment. I will take my time to consider and decide on a new agency.” Singer Kang Ye-seul also revealed, “I had a period of contemplation due to recent issues with the agency. After thorough discussions, we decided to terminate the contract. Although it’s daunting, I will strive to bring good news to those who support me.”
Hong Ji-yoon and Son Ho-jun Part Ways
On the 2nd, singer Hong Ji-yoon announced her departure, saying, “The company wants the best for me, so we decided to part ways today. I will take some time to find a new agency.” Hong Ji-yoon had signed an exclusive contract with Think Entertainment last year.
It is reported that many other artists, including Son Ho-jun, are also in the process of terminating their contracts. Think Entertainment stated, “Son Ho-jun’s exclusive contract period ends this month, and we have decided not to renew it.” The list of Think Entertainment’s artists on portal sites already shows several stars missing.
The Collapse of Think Entertainment
Kim Ho-joong’s drunk driving and hit-and-run incident, along with subsequent lies and the agency’s inadequate handling, led to the sudden collapse of Think Entertainment. The company, which once boasted annual sales of around 20 billion won and was valued at 100 billion won, is now facing dissolution.
On the night of the 9th of last month, at around 11:40 PM, Kim Ho-joong crossed the centerline and collided with a taxi in Apgujeong-dong, Gangnam, Seoul, before fleeing the scene. Three hours after the accident, his manager turned himself in, claiming to be the driver, but investigations revealed that Kim Ho-joong was the driver. Kim Ho-joong appeared for questioning 17 hours later.
The disappearance of the black box memory card from Kim Ho-joong’s vehicle raised suspicions of a cover-up. Initially denying allegations of drunk driving, he admitted to drinking ten days after the accident and apologized. Kim Ho-joong was arrested on charges of causing injury through dangerous driving under the Special Act on Traffic Accident Treatment and hit-and-run, while the agency’s CEO and executive director were also arrested for aiding in his escape and evidence tampering. Kim Ho-joong has since been transferred from police custody to the Seoul Detention Center.
As a result of Kim Ho-joong’s incident, all employees of Think Entertainment have resigned, and the CEO position has changed. The company is currently in the process of legal dissolution.