A comedian, a rapper linked to Kim Ho-joong's hit-and-run case
What's the story
Comedian Jeong Chan-woo and rapper Gil have been revealed as the companions of South Korean singer Kim Ho-joong during his hit-and-run accident. As per industry insiders quoted by The Fact, the trio was spending time at a screen golf facility and an entertainment bar in Gangnam, Seoul on May 9, the day of the incident. Notably, Kim, who had earlier denied drunk driving, admitted to it on May 19. Subsequently, he was arrested on May 24.
Meeting insights
Entertainment executive revealed details of trio's meeting
An executive from an entertainment company disclosed that Jeong, a major shareholder of Kim's agency Saenggak Entertainment, shares a close relationship with Gil. After their golf meeting, the group proceeded to a restaurant for dinner and drinks, and later visited an entertainment bar where they consumed and "mixed various alcohol." Saenggak Entertainment has yet to officially confirm the identities of those present due to ongoing police investigations.
Details of incident
Every update about the case so far
On the evening of May 9, around 11:40pm, the trot singer reportedly collided with a taxi in Sinsa-dong, Seoul. Per reports, the singer is alleged to have changed lanes abruptly and fled the scene post-collision. During police interrogation, Kim reportedly confessed to "being the driver himself," contradicting an earlier claim made by his manager "to be the driver." "I did drink and drive. I am sorry," he said in a statement on the day of his arrest.
Financial struggles
Meanwhile, Kim's firm is in trouble
Amid this controversy, Kim's agency, Saenggak Entertainment or Think Entertainment, is on the brink of closure due to severe financial difficulties. This has left Kakao Entertainment, a 10% stakeholder in Think Entertainment, preparing for significant losses. The agency's revenue dropped from approximately 25.6B Korean won in 2022 to around 18.8B Korean won in 2023, with cash reserves falling from 9.4B Korean won to just 1.6B Korean won over the same period.
Agency's downfall
Impact of Kim's arrest on Think Entertainment
Despite all the controversies surrounding Kim, the artist continued performing due to the agency's financial pressures. However, his subsequent arrest led to the cancellation of his performances and dealt a severe blow to Think Entertainment. Per reports, the agency has since announced the resignation of all employees and begun the process of closing down, offering to terminate contracts with their artists without conditions if requested.