Fantagio has officially been declared unqualified to maintain its membership within the Korea Entertainment Management Association (KEMA), according to reports on May 25.
The KEMA's notice regarding Fantagio's loss of membership was sent out to Fantagio on May 25. Reportedly, KEMA "asked for verification of Fantagio's ability to legally operate a Korean entertainment management over the course of 3 instances." Afterward, Fantagio responded to the KEMA by admitting that requests to meet KEMA's requirements have not been met, as of yet.
The KEMA continued, "As we have confirmed Fantagio's self-awareness of the label violating KEMA laws regarding Korean entertainment management, the KEMA has decided to enforce administrative measures. We notify that as of May 23, Fantagio is publicly recognized as a label violating KEMA laws."
However, if Fantagio takes the necessary steps to meet the KEMA's requirements and is able to provide evidence of changes in the required fields, KEMA officials will reevaluate Fantagio's eligibility to re-join the association, KEMA reps said.
Meanwhile, Fantagio recently also revealed a potential candidate for its next registered president. Fantagio has called on president Park Hae Sun as a candidate in order to meet KEMA requirements, and the shareholders' meeting to instate or refuse Park Hae Sun as the label's new head is set to take place on June 18.
Stay tuned for updates.