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| ▲ Singer Kim Ho-joong (C), accused of a hit-and-run while driving under the influence, and related agency officials appeared at court for a pre-trial detention hearing From left: Lee Gwang-deuk, CEO of Think Entertainment, accused of instructing Kim’s manager to make a false confession; singer Kim Ho-joong, accused of the DUI hit-and-run; and director Jeon, accused of removing the black box memory card from Kim’s vehicle, exit the Seoul Central District Court after their hearing. (Yonhap) |
SEOUL, June 20 (Yonhap) -- Singer Kim Ho-joong’s agency, recently involved in a drunk driving hit-and-run case, has confirmed a name change as it withdraws from the management business.
Think Entertainment, now known as Art M&C, announced on the 20th, “We have recently changed our name from Think Entertainment to Art M&C. This change signifies our decision to exit the management business, and there are no hidden motives or schemes behind this decision.”
Think Entertainment faced significant turmoil after CEO Lee Kwang-duk and General Manager Jeon Mo were arrested for concealing Kim Ho-joong’s hit-and-run incident. Following this scandal, all executives and employees resigned last month, and the CEO position was changed. The agency has terminated exclusive contracts with artists like Geum Jan-di and Hong Ji-yoon, effectively entering a phase of shutdown.
Think Entertainment stated, “We decided not to continue the management business after causing social controversy. Consequently, an agreement was reached among shareholders to change the name and discontinue the use of the existing company name.”
A representative from Think Entertainment further explained to Yonhap News, “Ceasing the management business doesn’t mean we can close the company immediately. We still need to address the future of our employees and finalize the business operations, which is why we opted for a name change.”
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