Cho Seungyoun (aka Woodz), The former member of X1, will reportedly join Edam Entertainment, formerly owned by a Lee Jieun.
When Shin Sekyung joined Edam Entertainment, Lee Jieun was the owner of Edam so she went to greet the actress.
However, now Lee Jieun is not the owner of Edam Entertainment, and it seems Kakao is packing Edam with other singers, to weaken the ironclad grip Lee Jieun held over it.
When Lee Jieun owned Edam, it was one of the few woman-owned company among KPop, and almost unique for a woman-owned company, it produced 4 Grand Prizes.
Woodz' style of music is very unlike the style of music its former owner follows, and although he has some following in China and Japan, Edam's former owner might not have enough time for him. It is not known whether she approved this move, although because Kakao now owns 52.5% of Edam, it does not have to listen to her anymore.
This is a big coup of Kakao against its best known singer, something which might have a huge ramification in the future which might end up with Edam's former owner ousted from the company she founded.