LE of EXID has become the last of the group to leave Banana Culture, issuing a statement saying they went their separate ways amicably, “Hello, this is LE. I terminated my contract with Banana Culture, the company I have been with, following amicable discussion. I will continue to greet you with a positive impression and good music, so please show lots of support for my new start. Thank you.“
That follows Hani and Jeonghwa leaving in the middle of last year, Hyelin two months ago, and Solji a month ago. Now they are free to reunite under a different label, right guys? Guys? Please?
Maybe not, LE has been busy providing science, after all.
In the aftermath of all this, Banana Culture was rumored to be essentially shut down…
On March 25, the Korea Economic Daily reported that according to their investigation, Banana Culture Entertainment is gradually shutting down. The report stated that the agency has currently suspended their management work. A source described as being well aware of the internal situation at the agency stated, “Banana Culture is ending all their contracts with their artists. The main executives have also all left the company.” The source reported that the agency’s actors such as Lee Jung Hyun and Ha Seung Ri have also already departed from the company. Another source told the outlet, “There are essentially no staff members to carry out work.”
…but the company’s CEO denied those claims.
Later that day, CEO Yoo Jae Woong told outlet Xportsnews that this report is untrue. He stated, “I just saw the report that says that the agency is shutting down. This is a false report. Currently, TREI and female trainees remain at the agency.” In 2016, Banana Culture was invested in by the Chinese media group Banana Project. Yoo Jae Woong went on to say, “There are Chinese shares in Banana Culture as well so we’re not in a position where we could shut down the agency of our own volition. There are currently other talks underway about an investment from somewhere else. Our entertainment operations will continue.”
Should be interesting to see whether any of their artists actually have activities, though.