According to a recent report by Maeil Business Star Today, MLD Entertainment, home to the renowned K-pop group MOMOLAND, is facing severe financial difficulties.
The agency has allegedly delayed employee salary payments, leading to a mass exodus of staff. As of now, fewer than five employees reportedly remain with the company.
The situation has escalated to the point where former employees who departed due to unpaid wages have not received their entitled severance pay.
Despite complaints filed with the Labor Office, they have only received partial payments, exacerbating the discontent among those affected.
Established in 2015, MLD Entertainment rose to prominence as the management company of MOMOLAND, which achieved international fame with chart-topping hits like "BBoom BBoom" and "BAAM."
However, the group officially halted their activities in January last year, marking a pivotal moment for the agency.
Despite efforts to diversify its roster with idol groups like TFN, Lapillus, and HORI7ON, MLD Entertainment struggled to replicate MOMOLAND's success.
READ MORE : MLD Entertainment Dubbed 'Worst' Label By Netizens After Current Situation of Its Artists
TFN, in particular, faced challenges and initiated disbandment procedures earlier this year, signaling further instability within the agency.
CEO Lee Hyung-jin is reportedly in the Philippines, focusing on managing HORI7ON, a Filipino group under MLD's umbrella.
Meanwhile, notable artists such as Gill and Lee Seung-Chul signed with MLD recently, but their activities have been notably subdued, adding to the agency's woes.
Additionally, MLD Entertainment encompasses the dance crew CocaNButter, known for their appearance on Mnet's "Street Woman Fighter," showcasing the agency's involvement in diverse entertainment ventures beyond idol management.
The reported financial turmoil at MLD Entertainment underscores broader challenges within the K-pop industry, where smaller agencies often struggle to maintain economic stability amid intense competition and fluctuating market conditions.
As concerns over MLD's future persist, stakeholders and fans alike await further developments with hopeful anticipation, wishing for a resolution to the ongoing crisis gripping the agency.
HERE ARE SOME OF THE NETIZENS' REACTIONS ABOUT THE SITUATION:
that explains why Chanty is doing gaming streams on TikTok
That momoland karma is crazy! I feel bad for lapillus though.
Should've treated momoland better but i wish the best for the groups still there. Hope they can go somewhere else
They had a very successful group in Momoland. The way they mismanaged them is one for the books.
after what happened to Momoland, it's already a HUGE red flag idk why that company didn't go down already
KpopStarz owns this article.
Written by Cassidy Jones.
