According to an exclusive report by Star News, Leessang Company - an individual management agency created by Gil and Gary - revealed to have stopped all business activities last year.
A former employee of Leessang Company stated, "Currently, there aren't any employees working for Leessang Company. I believe the company still exists solely for the music profit that comes in through the label."
The two members of Leessang have been focusing on their individual promotions since the single 'Kaleidoscope' in July of 2015.
Personality differences and the controversy involving their building are reportedly the main reason behind their disbandment.
An insider also stated, "A lot of peers already know that the two people didn't have a great relationship during Leessang promotions. They did attend events together for business but they no longer even do that."
The fact that Gil was completely unaware of Gary's marriage seem to serve as another proof of their poor relationship.
No official statements have been provided regarding Leessang's disbandment yet.
Stay tuned for updates.