Mimiirose’s Agency Releases Statement Regarding The Group’s Future Amid News Of Financial Hardship

Mimiirose‘s agency released a statement after the group’s CEO revealed he had been scammed out of billions of KRW and that he had no money to fund the group.

On April 27, Mimiirose’s agency, YESIM Entertainment, revealed in a statement to Sports Seoul the future of mimiirose. In the statement, the agency revealed the group will continue promoting.

Although I can not give you an answer about the CEO’s investments, mimiirose will continue as a team. We are planning to fulfill our July comeback plans.

— YESIM Entertainment

The agency also revealed that the group is 70% finished with preparing for their comeback, and despite the agency’s hardship, they are looking for ways to persevere.

Mimiirose has completed 70% of its preparation for its comeback. As reported, we are facing hardship, but we, as an agency, are looking for ways to pull through.

— YESIM Entertainment

The agency did, however, reveal that certain plans will have to be amended due to their financial situation.

We estimate there will be a delay in the global audition that we were planning.

— YESIM Entertainment

Previously, the agency announced that they were holding global auditions and that the winner would receive a cash prize worth ₩100 million KRW (about $74,800 USD).

The statement follows concerns for mimiirose after the label’s CEO, Im Chang Jung, revealed that he had been scammed out of ₩8.40 billion KRW (about $6.36 million USD). The legendary singer revealed the news in an interview with JTBC after he was alleged to have been a part of a stock manipulation scheme. You can read more about it in the link below.

Mimiirose’s CEO Alleges He Was Scammed Out Of 8.4 Billion KRW And Has No Money To Promote The Group