"700 million won in, 800 million won out"... Cha Ga-won, chairman of One Hundred Label, denies accounting allegations in 'PD Notebook' [Star Issue]

*This content was translated by AI.

'PD Notebook' raised allegations regarding Cha Ga-won's fund management based on One Hundred Label's accounting records. Cha Ga-won dismissed the allegations, stating, "All funds were used for production costs."

On the 1st, MBC's 'PD Notebook' released a preview video titled "Corporate funds to personal accounts? We met K-pop major label Cha Ga-won" on its official YouTube channel.

Cha Ga-won, who first appeared in the entertainment industry in 2023, became the head of the massive entertainment company 'One Hundred Label' in just three years, representing Taemin of SHINee, Chen, Baekhyun, and Xiumin of EXO, Lee Seung-gi, and Lee Mu-jin.

The initial investment funds that flowed into this entertainment company and its affiliates in one year exceeded 115 billion won. This was money paid in advance by record distribution companies and event planning firms, trusting the IP (trademark) value of the artists. However, the artists themselves are demanding contract termination, stating they have not received settlement payments.

'PD Notebook' producers met with Cha Ga-won, who said, "I didn't have the intention to fully enter the entertainment business from the very beginning."

An employee of the entertainment company stated, "He has a huge amount of cash. He currently conducts all his personal life transactions in cash," while an acquaintance revealed that Cha Ga-won received many luxury gifts.

'PD Notebook' reported that it obtained the accounting records of one affiliate for three years exclusively from an insider who closely managed the company's accounting and taxes. The records clearly showed traces of large sums of advance payments entering the company's bank account and immediately flowing out to Cha Ga-won's personal account.

The accountant explained, "When 700 million won enters the corporate account, 800 million won leaves Cha Ga-won's account the next day. Another 200 million won leaves on the same day. As you can see, as soon as money comes in, it all goes out immediately."

In response, Cha Ga-won completely denied the allegations, stating, "The money received from vendors was all used for production costs. Not a single won was used for personal funds or in any improper manner."

Meanwhile, 'PD Notebook's' "MC Mong and the Chairman's K-pop Trade Secrets" will be broadcast on June 2 at 10:20 p.m.

Among these, One Hundred Label issued an official statement ahead of the broadcast, saying, "We are seriously aware of the situation where malicious defamation, dissemination of false facts, insults, and mockery—posts and malicious comments constituting defamation—are being indiscriminately spread regarding Cha Ga-won, the CEO, and our company."

It further emphasized, "Our legal representative will take strong legal action against these malicious commenters and those spreading false facts. We will show no concession whatsoever regarding criminal acts that damage the reputation of our company and its employees, and will take severe legal measures without any warning, leniency, or settlement."

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*This content was translated by AI.