Reports have been suggesting a shutdown is imminent for the label
By
26 Mar 2020 - 9:06 AM  UPDATED 26 Mar 2020 - 9:06 AM

K-pop entertainment company Banana Culture, formerly home to girl group EXID, has responded to rumours that they are in the process of shutting down.

EXID's LE has become the final member of the girl group to leave the agency, sharing an announcement to her Instagram on March 25. Members Hani and Jeonghwa left in May 2019, while Hyelin and Solji departed the agency in January and February 2020 respectively.

Reports began appearing in Korean media on March 25 that the agency is ending its contracts with remaining artists and that main executives had already left the company, with almost no staff left to carry out tasks.

The agency is currently home to boy group TREI, and a number of actors.

Banana Culture's CEO Yoo Jae Woong has denited the rumours saying that the agency is not shutting down and that currently TREI and female trainees are still with the company. The CEO also mentioned that Banana Culture had Chinese investment which meant it couldn't shut down of its own accord, and that entertainment operations will continue as usual.

(Source)


 

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