According to an exclusive report on December 27, entertainment label Urban Works will be shutting down all acting management activities by April of 2019.
Urban Works is known as the label of currently active IZ*ONE member Kim Min Joo, as well as solo artist Kriesha Chu. Its acting management side is made up of 8 artists - Kim Eung Soo, Choi Kyu Hwan, film director Bong Man Dae, Lee Cho Ah, Choi Soo Han, Lee Bit Na, Shin So Yi, and Han Seo Wool.
Recently, its been revealed that the above actors were notified of Urban Works's plans to halt its acting management activities soon. Several of the label's employees have departed the label already, and the decision was allegedly made due to financial strains. Meanwhile, Urban Works will continue with its music artist management, and Kim Min Joo and Kriesha Chu will remain as label artists.
One insider stated, "The domestic management business is not looking good these days. Some are even saying, '30% of all management companies may be gone or merged with bigger labels by next year'."