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ASTRO member and actor Cha Eun Woo has built a reputable career for himself with multiple brand endorsements, drama appearances and even international tours. However, now that he’s serving in the military, insiders say that his agency is getting the biggest hit.
Earlier this week, Chosun Biz reported that Cha Eun Woo’s agency, Fantagio, is “staggering under financial strain”. According to the report, the company is now burdened with fines due in October following a tax investigation from the Seoul Regional Tax Office. Additionally, Fantagio is due to pay back KRW13 billion in bonds, as its seventh round of convertible bonds matures.In short, the company now requires more funds in October and November than it currently has.
According to the agency’s securities filings, one single artist accounted for more than half of the company’s total revenues for the third quarter of 2023 . While the filling never revealed the source of this revenue, many believed this artist to be Cha Eun Woo. In that year, the idol had appeared in several projects and was appointed brand ambassador for Skechers, Subway and Ricola.
In response to this, Fantagio argued that the company is not facing a liquidity crisis and that it’s currently in discussions about its finances. What are your thoughts on this? Do you also think the company isn’t doing well without Cha Eun Woo?
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