The Association of Entertainment Management of Korea launches a statement of the problems in Fantagio.

The Korean Entertainment Management Association (hereinafter referred to as KEMA) issued an official statement warning entertainment agencies not to invite large, imprudent capital investments.
The statement entitled "Urge to raise awareness about the careless entry of foreign capital into the entertainment industry" was sent to the member companies of KEMA by email. The statement referred directly to the "Fantagio problem", in which Na Byung Jun, founder and co-CEO of the company, was fired from his position by the largest Chinese shareholder company. Fantagio staff announced that they will go on strike if they do not reinstate him.
The KEMA statement began by mentioning that an increasing number of companies were suffering from Chinese investment withdrawals and the abuse of power by major shareholders. "On December 28 there was an incident in which Na Byung Jun, the founder of Fantagio, which is one of the member companies of KEMA, was fired without notice and the staff declared a strike," the statement said. "This can not be overlooked as the problem of a single entertainment company and it is time for all of us to recognize that this is not a new problem that has just emerged."
He continued: "Even now M & A, sales and acquisitions between Chinese companies and Korean entertainment agencies are constantly taking place." Reflecting on this incident at Fantagio, KEMA wishes to point out that inviting large unwise capital investments could result in the loss of management control. "
KEMA also expressed regret for the dismissal of Na Byung Jun in the statement, praising Fantagio as an excellent company that hosts many artists loved by audiences around the world. They said: "We are very sad because of the Fantagio incident that has raised awareness and caused an impact on the industry, we sincerely hope that they will reach a friendly solution and there will be no more problems."
Regarding his statement, KEMA sources explained that they were trying to raise awareness about unreasonable foreign investments. They added, however, that they had no authority to get involved or solve this problem.