Latest news with #KRW
Time of India
3 hours ago
- Entertainment
- Time of India
Never left THE BOYZ? Ju Haknyeon's shocking Insta post slams prostitution rumours after meeting AV star Kirara Asuka
The K-pop world was rocked after Ju Haknyeon was removed from his group, THE BOYZ, following viral rumours that he was seen in Japan with former Japanese adult film actress Kirara Asuka. The controversy quickly spiraled, leaving fans blindsided. One Hundred Label revealed that they had been contacted by Japanese outlet Shūkan Bunshun and subsequently verified the situation directly with the idol. Following this, the agency released an official statement announcing his departure from both THE BOYZ and the label. In response, the idol shared a handwritten apology letter on Instagram, announcing his farewell. Ju Haknyeon claims he never left the group However, a new chapter in the unfolding drama erupted as speculation continued to spread online. Ju Haknyeon returned with a bold, emotional Instagram post, directly calling out the agency and media for their handling of the situation. His words hinted at deeper tensions behind the scenes, leaving fans divided and demanding clarity. Ju Haknyeon's Instagram post "Hello, this is Ju Haknyeon. Despite my clear position that I have not committed any illegal act, I will take legal action, civil and criminal, against reporters and media outlets who continue to write malicious articles. If there is evidence of prostitution, please disclose it to me immediately. Also, I have never left the team and have never agreed to the termination of my exclusive contract. The agency is making it seem like there is a reason for termination of the contract, even though there is no reason for termination, and some media outlets are defaming me by mentioning prostitution without any basis. The agency demanded compensation of over ₩200 million KRW (about $145,000 USD) and told me to leave the company, but I have never accepted it. Regardless, they announced to the press that the termination was confirmed. I want to ask whether the agency's attitude of trying to unilaterally remove me from the group and urge me to terminate my contract by demanding over ₩200 million KRW (about $145,000 USD) just because I was with a famous person in a private setting is the attitude of an agency that should be protecting the artist. When I refused to accept the termination of my contract, they sent me a certified mail stating that the contract was terminated due to my fault, ignoring the procedures stipulated in the contract, and warned me about compensation for damages. Honestly, I am really scared. But if I give up here, this society might become a place where people who have nothing can fall for things they didn't do. I have silently endured this so far, believing the truth will come out. However, when someone attempts to bury people under the pretext of something that didn't happen, I can no longer remain silent. I want to hold accountable the agency that unfairly kicked me out and insisted on terminating my contract without any basis, and the media outlets that mentioned prostitution without confirmation. Regardless, I will go all the way to reveal the truth. I am taking the courage, hoping this fight can give someone a little hope." Prostitution illegal in South Korea Prostitution is illegal and largely frowned upon in South Korea's conservative, Confucian-influenced society. The 2004 Act on the Prevention of Commercial Sex Acts and Protection of Victims strictly prohibits all forms of sex work. However, despite ongoing enforcement efforts, the underground sex industry continues to exist, with authorities frequently conducting raids and imposing penalties on those involved. For all the latest K-drama, K-pop, and Hallyuwood updates, keep following our coverage here.
Time of India
4 hours ago
- Entertainment
- Time of India
Former THE BOYZ member Haknyeon shares he never left the group; issues statement as the company slams back
THE BOYZ have been under a lot of public scrutiny lately. In recent events, member Haknyeon was removed from the group and the company following major controversy with a former AV actress. As per the agency's official statement, the idol had left the group; however, he has come forth with a shocking new statement. Haknyeon has alleged that he never left the company. Did Haknyeon leave the group or not? Due to a recent alleged prostitution scandal, member Haknyeon of the boy group THE BOYZ was removed from the company, citing 'the severity of the allegations'. In a new revelation, however, the idol has revealed through a lengthy post on social media about how he was treated by his company. View this post on Instagram A post shared by 주학년 Juhaknyeon (@_juhaknyeon_) He called out his company as well as media outlets for spreading false allegations, even though he admitted that nothing illegal had taken place. He started the post off with, 'Hello, this is Ju Haknyeon. Despite my clear position that I have not committed any illegal act, I will take legal action, civil and criminal, against reporters and media outlets who continue to write malicious articles.' 'If there is evidence of prostitution, please disclose it to me immediately. Also, I have never left the team and have never agreed to the termination of my exclusive contract. The agency is making it seem like there is a reason for termination of the contract, even though there is no reason for termination, and some media outlets are defaming me by mentioning prostitution without any basis,' he continued. Haknyeon calls out his agency, saying they demanded compensation In the social media post, he also emphasised how his company demanded compensation from him as well. His post read that 'The agency demanded compensation of over 200 million KRW (about USD 145,000) and told me to leave the company, but I have never accepted it. Regardless, they announced to the press that the termination was confirmed.' He then shared that 'I want to ask whether the agency's attitude of trying to unilaterally remove me from the group and urging me to terminate my contract by demanding over KRW 200 million just because I was with a famous person in a private setting is the attitude of an agency that should be protecting the artist.' The idol then ended his post by saying that he no longer wishes to remain silent and that he will go to whatever measures are possible in order to reveal the truth. He also called his company out for kicking him out without any reason and the media outlets that spread 'baseless' rumours about him. He stated that 'Regardless, I will go all the way to reveal the truth. I am taking courage, hoping this fight can give someone a little hope. ' Company retaliates as Haknyeon's post goes viral The group's company then published a statement in response to the allegations shared by Haknyeon. According to reports from Koreaboo, the company's statement read that 'First, we felt that Ju Haknyeon's incident would greatly damage the team's promotions, so we suspended his activities. After looking into the situation in detail, we decided to fully inform Ju Haknyeon of the grounds for contract termination per Article 6, Section 3 of the exclusive contract, which states, 'Acts that damage the dignity of the artist to the extent that cause interference with activities. '' They shared that whatever action they have taken so far regarding the former THE BOYZ members has been legal and within the grounds of the rules and regulations mentioned in their contract.
Cision Canada
6 hours ago
- Business
- Cision Canada
Parataxis Holdings LLC Announces Definitive Agreement with Bridge Biotherapeutics, Inc. (KOSDAQ: 288330), to Bring Institutionally-Backed, Bitcoin Treasury Company to the South Korean Public Markets:
SEOUL, South Korea and NEW YORK, June 20, 2025 /CNW/ -- Parataxis Holdings LLC ("Parataxis Holdings"), an affiliate of Parataxis Capital Management LLC ("Parataxis Capital" or "PCM"), through Parataxis Korea Fund I LLC and affiliates, has entered into a definitive agreement with Bridge Biotherapeutics, Inc. ("Bridge Bio" or the "Company") to invest KRW 25 billion which would provide Parataxis Holdings a controlling interest in the Company (the "Transaction"). Following the closing of the Transaction, the Company intends to change its corporate name to Parataxis Korea and remain listed on the KOSDAQ. The Transaction is subject to customary closing conditions, including approval by the Company's shareholders. The Transaction would result in the creation of a Bitcoin-native treasury platform in the South Korean public markets that is anchored by institutional investors with significant experience in digital asset investments. As part of the Transaction, Edward Chin, Founder and CEO of Parataxis Holdings, and Co-Founder & CEO of Parataxis Capital, will be joining the Board of Directors of the Company. Andrew Kim, Partner at Parataxis Capital, will assume the role of CEO of the Company and will also join the Board of Directors. James Jungkue Lee, Co-founder of Bridge Bio will continue to lead the core biotech business and serve on the Company's Board of Directors. "Inspired by the growing interest in BTC treasury strategies seen in companies like Strategy in the US and Metaplanet in Japan, we believe institutional interest in this space is increasing globally. We see South Korea as an important market in the evolution of BTC adoption. Our intent is to support institutional access to BTC exposure while emphasizing sound corporate governance and disciplined capital management," said Andrew Kim. "We are incredibly excited to create the first BTC treasury company in South Korea backed by an institutional-grade platform. Given the strategic nature of BTC on the global stage and its finite supply, we believe that building and growing a company like Parataxis Korea and accumulating a BTC treasury will benefit our shareholders as well as the country over the long run," said Edward Chin of Parataxis Holdings. Along with the contemplated Transaction, Parataxis Holdings is closing another fund with substantially the same strategy, and is in the process of launching additional fund vehicles. Parataxis Holdings expects to announce additional details regarding the Transaction after conducting a shareholder meeting expected in August. Shin & Kim LLC, is acting as legal advisor to Parataxis Korea Fund I LLC in the Transaction. Deloitte is acting as financial advisor to Parataxis Korea Fund I LLC in the Transaction. About Parataxis Capital Management and Parataxis Holdings Parataxis Capital Management is a multi-strategy investment firm focused on the digital asset sector. PCM was founded in 2019 and manages multiple commingled hedge fund vehicles and provides sub-advisory services for institutional allocators, family offices, fund-of-funds and high-net worth individuals. Parataxis Holdings is an affiliate of PCM and focused on BTC treasury and other digital asset investment opportunities. Both firms are headquartered in New York City. About Bridge Biotherapeutics Bridge Biotherapeutics, Inc. is a clinical stage biotech company engaged in the development and commercialization of therapeutics for the treatment of ulcerative colitis, fibrotic diseases, and cancers worldwide. The Company was founded in 2015 and was listed on the KOSDAQ in 2019. Bridge Bio is headquartered in Seongnam, South Korea. Forward-Looking Statements: This press release contains forward-looking statements, including but not limited to those relating to the proposed transaction, potential business combination, and the anticipated use of proceeds. These statements are based on current expectations and projections and are subject to risks and uncertainties that could cause actual results to differ materially. There is no assurance that the transaction described herein will be completed as contemplated, or at all. The Company assumes no obligation to revise or update any forward-looking statements after the date of this release, except as required by applicable law. This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in any jurisdiction, and should not be interpreted as investment advice or a recommendation regarding any investment decision. Investing involves inherent risks, including the potential loss of principal. Any investment decision must be made solely at the discretion and responsibility of the investor. No representation or warranty, express or implied, is made by the Company with respect to the accuracy of any information contained herein or the achievement of any investment returns or financial results.
Pink Villa
6 hours ago
- Entertainment
- Pink Villa
IVE's Jang Wonyoung defamation case: Sojang fights back, appeals 50 million KRW penalty order
The heated legal fight between Starship Entertainment and the controversial YouTube channel Sojang has taken a new turn. While Starship secured a major win in court earlier this month, the legal clash is far from over. The channel operator has officially filed an appeal. According to legal insiders, on June 18, the operator behind Sojang submitted an appeal. The aim is to contest the ruling handed down by the Seoul Central District Court just weeks prior. This move has reignited public attention on the case, which has made headlines due to its ties to some of the biggest names in K-pop. Starship's win in civil court Back on June 4, the 50th Civil Division of the Seoul Central District Court, presided by Judge Choi Mi Young, issued a ruling. The court ruled in favor of Starship Entertainment in their civil lawsuit against Sojang. The court concluded that the YouTuber had damaged the reputation of Starship and its artists by repeatedly spreading false and defamatory content. The court ordered Sojang's operator to pay 50 million KRW (approx. 36,500 USD) in damages to Starship. The agency had initially sought 100 million KRW in compensation, but the court settled on a partial ruling. It's still a clear legal victory for the company. Who is Sojang, and what did they post? The operator behind Sojang became infamous across the K-pop fandom space for posting cyberbullying-style content. These videos aggressively targeted celebrities with unverified rumors, manipulated stories, and malicious speculation. From October 2021 to June 2023, the channel built a large viewership. It did so by consistently posting videos aimed at idols like Jang Wonyoung (IVE), BTS, EXO, aespa, and Kang Daniel. The backlash against Sojang grew rapidly as fans and agencies began pushing for accountability. Reports later revealed that the YouTuber had allegedly earned 250 million KRW (approx. 80,000 USD) through monetization during the peak of the channel's activity. During this time, they continued to harm reputations with each upload. Multiple legal fronts: Civil and criminal The civil lawsuit wasn't the only legal action taken. Starship and Jang Wonyoung personally pursued criminal charges against Sojang's operator as well. The court, after reviewing evidence and patterns of behavior, sentenced the individual to two years in prison. However, the sentence was suspended for three years. This is a form of probation that allows the defendant to avoid jail unless further offenses occur. However, even that ruling has been challenged. Prosecutors have filed an appeal, expressing dissatisfaction with the suspended sentence. They believe it does not reflect the seriousness of the case. In a separate damages lawsuit, Jang Wonyoung also won a partial victory. The court ordered Sojang to pay the IVE member 50 million KRW in damages. It further solidified that the content in question was not only harmful but legally punishable. Other idols join the fight Sojang is not only facing legal pressure from Starship and Jang Wonyoung. Additional lawsuits are ongoing from top-tier artists and agencies. They include BTS (BigHit Music), EXO (SM Entertainment), aespa, and soloist Kang Daniel. In several of those cases, the court has already sided with the idols. The court acknowledged that the channel's videos had a huge impact on the mental health, image, and careers of the stars involved.
Express Tribune
8 hours ago
- Entertainment
- Express Tribune
Ju Haknyeon disputes exit from THE BOYZ, says he never agreed to contract termination, agency responds
Ju Haknyeon has strongly denied claims that he has left K-pop group THE BOYZ, stating he never agreed to the termination of his exclusive contract. His agency, ONE HUNDRED, has now issued a formal response rejecting his accusations and defending its actions. Earlier this week, after news broke that he been kicked out of the group following a prostitution scandal with former Japanese adult actress Kirara Asuka, Ju Haknyeon addressed fans on Instagram, stating: 'I have never left the team and have never agreed to the termination of my exclusive contract.' He also challenged the media and his agency to present any proof of illegal activity following reports linking him to a meeting with th AV actress. Ju alleged the agency demanded ₩200 million KRW (around $145,000 USD) in compensation and pressured him to leave. 'I want to hold accountable the agency that unfairly kicked me out and insisted on terminating my contract without any basis,' he wrote. On June 20, ONE HUNDRED responded with a statement: 'We deeply regret the one-sided false claims made by Ju Haknyeon.' The agency explained the decision followed concerns that the situation would damage group promotions. They cited Article 6, Section 3 of his contract, stating the termination was due to 'acts that damage the dignity of the artist to the extent that cause interference with activities.' ONE HUNDRED said it considered the termination 'legitimate and reasonable' and warned: 'If he continues these claims, we will respond with strong legal actions.' The agency added that THE BOYZ will continue activities as scheduled, excluding Ju Haknyeon, and no further comments on the matter would be made.
