The Agency Reportedly Will Close Its Business, This is Banana Culture Entertainment CEO's Response
Banana Culture Entertainment CEO, Yoo Jae Woong, responded to the news about the closure of his agency. On Wednesday (03/25) yesterday, the Korea Economic Daily reported that Banana Culture Entertainment plans to close the agency after ending contracts with their artists and all the employees leaving the company.

The news came after LE officially became the last member of EXID who decided to terminate her contract with Banana Culture Entertainment.

Responding to the report, CEO Yoo Jae Woong commented to Xportsnews media, "I just saw the news that the agency will close. That is a wrong news. At present, TREI and female trainees are still in the agency."

In 2016, Banana Culture Entertainment received funding from Chinese media company, Banana Project. Yoo Jae Woong then explained, "There are shares of Chinese companies in Banana Culture Entertainment, so we cannot close the agency based on our own decision. We are also discussing investments from other companies. So our company will continue to run," he concluded. (www.onkpop.com)

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