MBK Group, the parent company of MBK entertainment announced that they will discontinue their entertainment business.
MBK announced on December 12th of 2016 that they are discontinuing their entertainment business.
The entertainment side of business made a total of 2.7 billion won this year, which is 22.88% of the company’s entire sales. However, MBK Group stated, “We are discontinuing a business that has reached its maximum potential in order to improve our overall business. We plan to focus on our main business such as OLED and develop new ventures such as cosmetics instead.”
Although MBK Group and MBK Entertainment are not the same entity, MBK Entertainment, as MBK’s subsidiary, is directly affected by the Group’s decision to discontinue entertainment business. This could possibly mean the abrupt stop of all funds and may very well cause MBK entertainment to shut down completely.
MBK entertainment is the home of popular girl groups such as T-ARA and DIA as well as the parent company of DAP Sound and Maroo Entertainment which are home to multiple artists including singer Kim Jong Kook, actor Ha Seok Jin and Seo Eun Chae as well as Shannon who is currently competing in K-Pop Star.
Source: Sports World