Singer Kim Ho-joong, who is serving a prison sentence after being convicted in a drunk hit-and-run case, still holds a sizable equity stake in his affiliated company, according to entertainment industry reports.
On 22, industry sources said Kim owns 7.43% of ArtMNC. The stake is estimated to be worth about 5 billion won.
Kim’s agency, formerly known as Saenggak Entertainment, changed its name to ArtMNC after the 2024 Kim case and has pursued a diversification strategy beyond its artist-management focus, the reports said.
The company has expanded into areas such as health care and media content based on intellectual property. It acquired the diet health supplement brand “Deepte 3 Days” and brought in the K-culture platform company “StudioMNC,” moving toward a broader entertainment group spanning manufacturing, distribution and media.
The industry has noted that the company’s value has risen compared with before Kim’s crash, suggesting it has moved beyond “artist risk,” the reports said.
Kim was arrested and indicted after a May 2024 crash on a road in Apgujeong-dong, Seoul’s Gangnam district, in which he hit a taxi coming from the opposite direction and fled, according to the reports. He was convicted of charges including dangerous driving causing injury under the Act on the Aggravated Punishment of Specific Crimes and is serving a 2 1/2-year prison term.
* This article has been translated by AI.
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