Fantagio Responds To Reports Of Cha Eun Woo Terminating His Exclusive Contract With The Agency

It has belatedly come to light that singer and actor Cha Eun Woo previously terminated his exclusive contract with his agency Fantagio, and the agency has said it has no statement.

On November 1, Sports Kyunghyang reported that Cha Eun Woo had mutually terminated his exclusive contract in the past, after normal management became difficult due to Fantagio’s management rights dispute and management vacuum.

According to the report, Fantagio signed a service outsourcing contract in July 2019 with a corporation established by Cha Eun Woo’s mother to support his entertainment activities.

The contract between Fantagio and Cha Eun Woo’s mother has reportedly remained in effect until now. Cha Eun Woo is said to be the only artist at Fantagio with a structure in which the agency signs a service outsourcing contract with a corporation established by an artist’s family member and shares income.

In response, Fantagio told Xports News, “There is no additional official statement regarding the matter.”

Cha Eun Woo found himself at the center of controversy earlier this year over tax evasion allegations, and he later personally addressed the controversy. Fantagio was reportedly hit with about 8.2 billion won (about $5.9 million) in additional taxes after a tax investigation into its contract with the corporation of Cha Eun Woo’s mother, and it released a 2nd statement as the controversy spread.

Cha Eun Woo was also initially reported to have received a notice of additional income tax of around 20 billion won (about $14 million), but he paid the actual additional tax amount of 13 billion won (about $9.3 million). He has since filed a request for a ruling with the Tax Tribunal, objecting to the National Tax Service’s tax disposition.

Source: (A)