Former FIFTY FIFTY members Saena, Aran, and Sio signed with IOK Company's new subsidiary MASSIVE E&C

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From onwards ~

Got a not so nice update on IOK's current situation and its not looking good for the members.

Naver is reporting on Dispatches report on IOK. In summary:

- Contract is for 5 years

- IOK’s chairman Kim Taesung was sentenced last month for 2.6 years in prison for bribery and 1 year for violation of the political funds act. (He was apparently sending money to North Korea and it’s in relation of politician Lee Hwa-young : former Gyeonggi Province Peace Vice Governor)

- Their music division is lead by singer “ The One” as executive director who is in trouble with his ex over missing child support

- IOK has been losing money for 8 years now - “Looking at the performance of the past 3 years, it was -3 billion won (2020), -8.3 billion won (21), and -10.8 billion won (22). In 2023, it also had a deficit of 7.7 billion won.”

“IOK is covering its deficit with convertible bonds. Since 2007, it has issued 20 convertible bonds, 20 convertible bonds with warrants, 13 paid-in capital increases, and 1 bonus capital increase.”

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Well, damn. These girls cannot catch a break.

Quote from soshixbang

https://www.munhwa.com/news/vi…no=2024082701039912069010

Yeah, they not giving up. They want that 300 million won settlement from Attrakt CEO.

It's 300K. 300K vs 13B. The girls want theirs names cleared from all allegations made by Attrakt with the help of Kmedias. They have always asked for financial transparency. If you want to be paid, you will ask more than 300K.

MASSIVE E&C have opened their official SNS