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On August 18, several South Korean news outlets reported that the singer was in the midst of a dispute with his agency Re:Cielo. The agency, which signed Park earlier in January, alleged that he recently violated his contract.
“About a month ago, we heard that Park signed a double contract with a Japanese agency,” the company said in a release, per Yonhap News Agency. “We are suffering financial damage and feel betrayed by Park’s violation.”
According to Re:Cielo, the singer also falsely claimed that his contract with Re:Cielo had already been terminated after its CEO embezzled company funds. The agency has since refuted these claims.
“What Park said about Re:Cielo in Japanese media reports is totally groundless and seriously defames our CEO’s reputation,” the company said. “Re:Cielo was founded by Park’s longtime manager, who has been with him since his JYJ years, in order to help with his comeback.”
According to a report by Korea JoongAng Daily, the agency alleged that Park had also embezzled company funds, as he “habitually used the company’s corporate credit card to pay for his personal shopping sprees, purchasing game items as well as spending at the clubs he visited with his friends”.
Park has yet to respond to Re:Cielo’s official statement.
Re:Cielo was founded last year by Park’s longtime manager to reportedly restart the idol’s career. This was after Park was convicted on drug charges in 2019, resulting in the termination of his contract with his previous agency, C-JeS Entertainment, as TODAY Online reported.