European Bagel

WFT is happening with Fantagio? I don't understand... I'm sorry, I'm not the smartest in a pot, could you put it simply?

to put it very simply, a chinese company (jc group) which bought fantagio shares and owns a majority of them (which basically means that they almost singlehandedly own most of the fantagio corporation) have started to operate against fantagio by dismissing the co-ceo and founder na byeongjun from his position, which was reported to have been news to fantagio (basically no one discussed it). now the only ceo is the jc group ceo wei jei. (why is this important? well, it’s claimed that he was fired via a board directors meeting…. well… NA BYEONGJUN IS A PART OF THE BOARD. if this was done just how it was claimed to be done - without no prior consultation with fantagio, it gets highly confusing)

it’s claimed that na byeongjun was fired due to a budget deficit (though the obvious solution from an econ standpoint would have been to release more shares to pool more capital or obligations to fund the deficit instead of… you know… firing the head man…. and that’s why it’s concerning, in my opinion. it’s not a usual decision and if implies that jc group had bigger intentions. this is only my opinion, though.)

along with that, it’s reported that the corporation credit cards were taken away from the staffs, which means that whatever you have seen recently that might have required money, chances are it was funded out of pocket of the staffs and idols (for example, the food that astro gave out to arohas during dogeball COULD HAVE been funded out of their own pockets, considering the current situation)

it’s also reported that they pooled fantagio money to an unrelated hong kong company. which goes against that fantagio budget deficit (their expenses are higher than what they can afford basically) thing because why would you drain money from a corporation that has a budget deficit? or did it cause the deficit? either way, jc group knew what they were doing, since numbers can be foreseen easily. had they held fantagio’s best intentions in mind, they wouldn’t have done that, again, in my opinion.

in response to this, fantagio has had a crisis meeting and have settled with 9 demands for jc group. if the latter doesn’t fulfill the demands, fantagio corporation staff and employees are going on strike, which means that every schedule will be cancelled and fantagio artists’ songs won’t be played on radios. it’s chaos basically.

this is concerning because fantagio is not just fantagio music. it’s a HUGE corporation with a film production, idol/actor training, management training, cafe franchise companies under it’s wing. there are a lot of people working under it which are now in danger because the stability in fantagio corporation is non-existent. idols, actors are somewhat protected by their contracts, we don’t have to worry about ong as long as he’s under ymc contract, too, though, i’m not sure if it’s possible to sell the idols under contact. i believe it is, because of what happened to madtown (they were sold to a fraud company and have been going trough court to have their contract terminated. thankfully, they won, but the thing is is that they had nothing once they were sold). what we do have to worry about is the staffs, countless trainees and everyone operating under fantagio. chances are those caring people that have made fantagio into what it is (basically a company that offers therapy, free-time with family, school for managers, free diets, sexual predator lists) are now in danger. keeping in mind the actions of jc group and the lack of fantagio involvement in the decisions involving fantagio corporation, it’s very likely they won’t accept the 9 demands and the road can lead to more cuts and even the end of the company.

please, don’t ignore this issue. we can not do much, but we do matter, as consumers of what fantagio entertainment puts out. we can help fantagio by trending the  #판타지오_대표는_나병준_대표님  hashtag, so jc group can not ignore us.