Netizens Point Out The Huge Sign A Popular Entertainment Company Is “Close To Bankruptcy”
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While everyone knows the “Big 4” companies — SM Entertainment, JYP Entertainment, HYBE, and YG Entertainment — this does not mean no other companies have made a name for themselves in the industry. For example, Cube Entertainment has debuted groups like BTOB and (G)I-DLE, among many others.
(G)I-DLE | Cube Entertainment One such company is Woollim Entertainment, founded in 2003.
The company would debut its first boy group, INFINITE, in 2010. INFINITE are well known for being one of the groups to help spread the Hallyu wave and were the first K-Pop group to top Billboard’s Emerging Artists Chart.
INFINITE In 2013, the label merged with SM Entertainment’s subsidiary SM Culture and Content to form Woolim Label, an independent record label, and subsequently debuted their first girl group, Lovelyz, in 2014. SM C&C later split its business and established Woolim Entertainment to handle its music content business.
Lovelyz | Woolim Entertainment Currently, Woolim is home to three K-Pop groups (Golden Child, Rocket Punch, and DRIPPIN) and two soloists, former Lovelyz‘s Baby Soul (Lee Sujeong) and Kwon Eunbi. Lovelyz disbanded in 2021 following the expiration of the members’ contracts, while the last members of INFINITE departed from the label in 2022.
Golden Child | Vanity Teen 
Kwon Eunbi | News1 With two such successful groups helping to establish the company’s position in K-Pop, many believed that Woolim would be able to manage the artists under the label properly. However, according to netizens, a recently pointed out sign points to the company declining.
In a post on X, a fan claimed that it had been nearly a year and a half since an artist under the label released an album that was not a single album.
The way woollim hasn't released a mini or full album in almost 1.5 years
broke ass company
pic.twitter.com/lmQPYAgnGe
— Lena
Looking at each group’s activity, one will find that the statement is true.
Golden Child’s most recent release, Feel Me, was a single album, and their most recent mini-album was released on August 22, 2022. The label’s second girl group, Rocket Punch, last released a mini-album in February 2022 and have never released a full album in Korea.
Rocket Punch | Woolim Entertainment Lee Sujeong’s only mini album was also released in April 2022. Kwon Eunbi, who has seen a huge surge in popularity since her appearances at WATERBOMB festivals last summer, released the mini-album Lethality in October 2022.
DRIPPIN debuted in 2020 and released one full album in November 2022, their last non-single album release.
DRIPPIN | Woolim Entertainment This means it has been almost 16 months since an artist released anything other than a single album, with April 2024 marking a year and a half. Groups will sometimes go this long between full albums, but groups under established labels rarely go so long without mini-album releases.
More goes into the production of full and mini-albums, making them more expensive to publish, and this has led some to believe Woolim is suffering financial difficulties. However, some are glad to see the company “struggle” because of the alleged mistreatment of Lovelyz and INFINITE and hope the current artists can find other labels.
There is genuinely so much talent in this company and this level of mismanagement is genuinely tragic https://t.co/edrvn8kBLT
— Sam
(@Jitopias) March 22, 2024
The bankruptcy is real https://t.co/RAp90dsAvd
— ???????????? (｡♡‿♡｡) (Rest)
(@newfrvr) March 22, 2024
This is what happens when woollim mistreat infinite and set them back.. had they not mistreat infinite, they wouldnt have left woollim, the trademarks would be with them, money will still come in and better promotions for all woollim artists https://t.co/mxRk9u5GuY
— Eu (@eulnize) March 21, 2024
free everyone in the company but woollim's downfall has been a long time coming tbh lol https://t.co/puZTcLS4YF
— chelsie
(@syIveon) March 21, 2024
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