mimiirose leave YES IM Entertainment, to continue under new management

nme.com:

mimiirose have announced their departure from agency YES IM Entertainment, but will continue releasing music under different management.In a statement released to South Korean news outlet SPOTV News yesterday (November 21), music label YES IM Entertainment said: “mimiirose will be leaving YES IM Entertainment and will continue promoting under a new agency”, as translated by Soompi.

YES IM Entertainment also shared that the group’s contracts with the label had concluded after mutual discussion, and that they have now signed to a newly established agency.

However, the band’s new label was not named.The circumstances behind mimiirose’s sudden departure from the agency was not explained in the statement.

It also arrives shorty after their September single album ‘LIVE’. That release was delayed several months after the label’s founder and CEO Im Chang-jung became embroiled in allegations of fraud.Im, who is himself a renowned singer and actor, was placed under investigation for his alleged role in manipulating stock prices after he sold a part of his stake in YES IM Entertainment for KRW5billion.A portion of that money was purportedly put into an investment project, which also led to new securities companies accounts being made in order to cause steep plummets for some companies on the Korean stock market.In other news, FIFTY FIFTY have become the first K-pop girl group to make an appearance on Billboard’s Hot 100 Year-End Chart with their viral hit ‘Cupid’, which charted at number 44.