It was revealed recently that the Co-CEO of CoKo Entertainment, Kim Woo Jong, was placed on the wanted list for allegedly embezzling funds on January 5.
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According to several reports, Kim Woo Jong left for America after taking thousands of dollars from the company fund. As of now, the whereabouts of Kim Woo Jong cannot be determined.
An arrest warrant for Kim Woo Jong has also been issued in the chance that he returns to Korea.
Currently, many comedians and managers under the company had their exclusive contracts nullified due to delay in payments, causing the company to further struggle financially. All the employees are also on indefinite leave as well.
Founder of CoKo Entertainment and acclaimed comedian, Kim Jun Ho, is taking over as the new head in the company.
Meanwhile, Kim Woo Jung was accused of allegedly embezzling funds from the company back in December, 2014, and is currently unable to be found. Several comedians under CoKo Entertainment, including Lee Kuk Ju, vowed to stay by Kim Jun Ho's side until things are sorted out.
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