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FANTAGIO Founder Na Byeong-joon Is Dismissed

Representative Na Byeong-joon, founder of comprehensive entertainment company FANTAGIO, was unilaterally dismissed from one of the largest Chinese shareholder companies. The risk is high, as Chinese capital penetrates deep into the Korean entertainment industry. Executives and employees disagree with the dismissal of the representative of and set up an emergency committee while their celebrities are getting anxious.

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According to sources, JC Group, the largest shareholder in China, dismissed the co-representative founder Na Byeong-joon without notice and declared a sole system run by a Chinese representative. The declared reason for his dismissal was managerial deficit.

FANTAGIO is home to actors Kim Sung-gyoon, Seo Kang-joon, Gong Myung, Kang Han-na, Lee Tae-hwan, girl group Hello Venus, Weki Meki, boy group Astro, Wanna One's Ong Seong-woo, and others. Formerly known as N.O.A and founded by Na Byeong-joon in 2008, actors like Ha Jung-woo, Gong Yoo, Lim Soo-jung, Ji Jin-hee, Yum Jung-ah, and others have used the company for management.

The company was renamed FANTAGIO in 2011 and Na Byeong-joon recruited Seo Kang-joon, Gong Myung, Lee Tae-hwan, and the newly introduced system of male actor groups like Surprise consisting of Kang Tae-oh, Hello Venus, Weki Meki, boy group Astro, Wanna One's Ong Sung-woo, and more.

Currently, FANTASIO officials have formed an emergency committee called for the withdrawal of Na Byeong-joon's delegation arguing that the dismissal of Na Byeong-joon is a one-sided and unfair treatment of the huge Chinese investment.

Star Today checked the facts and the FANTAGIO committee says, "If Na Byeong-joon isn't restored immediately and if the illegal and unusual management intervention of the Chinese major shareholder's Korean branches are not stopped, all employees will go on strike".

FANTAGIO's largest shareholder in China changed in October of 2016 when Gold Finance, a Korean branch, took over 50.07% of the Chinese investment group called JC Group.

With the Chinese capital's domestic entertainment equity investment expanding day by day and this being the first case where the largest shareholder in China removed founder and took over the management rights, there will be great impact on the cooperation structure between Korea and China in the future.

If the FANTAGIO officials go on strike, it will have a considerable effect on the activities of their stars.

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