Cube Entertainment‘s co-founder Hong Seung Sung has just announced on his personal Twitter that he will be leaving the agency he helped create.

In a letter posted to fans on his personal Twitter, he announced his departure from the company, and shared the reasons why he was leaving.

To the fans who love Cube,

I am writing to address everyone here, where I used to occasionally communicate with you.

I didn’t feel suspicious of them because I believed we were good partners who could help each other, but it didn’t take much time for me to realize that they had no intentions of working together with me.

I didn’t want the hard work that was put into Cube Entertainment to be in vain. Since I was more than happy while working, even during the long time I was sick, there is no way for me to express how disappointed I am in this.

It’s also so heartbreaking that our strong faith we had in each other, that we shared this whole time, changed in an instant. However, it will be up to the people who stay to make Cube shine even brighter in the future.

I will now be leaving Cube, which I put my life on the line for. I’ll greet you all again [in the future] through a different method.

Please continue to show your love and support for the Cube artists, and I hope everyone will stay happy.

Thank you.

— Hong Seung Sung

The partners that Hong Seung Sung that was referencing to were Cube Entertainment’s new co-CEO’s, Ahn Woo Hyung (CEO of KVLY) and Lee Dong Kwan (Vice President of VT GMP). Back in February, VT GMP acquired a 30.61% stake in Cube Entertainment for ₩29.1 billion KRW ($23,859,514 USD). With this move, VT GMP took over as the largest shareholder in Cube Entertainment.

Back when the move was initially made, Hong Seung Sung complimented the change, stating that they would be joining forces with an impressive partner and they will help make Cube shine even more.

Hello.

This is Cube Entertainment’s Hong Seung Sung.

Cube has teamed up with an impressive partner so we can continue to make more powerful leaps forward.

By filling in for each other’s needs, we will work together to strive for an even more brightly shining Cube.

— Hong Seung Sung

However, once the new co-CEO’s were announced, Hong Seung Sung changed courses, expressing his displeasure at the new CEO’s.

Everyone, I would like to talk about what is happening at Cube right now. Recently, the majority shareholder in Cube change. However, in such a critical time period where we have to cooperate with each other for the sake of the artists, they (the new CEO’s) are generating conflict in the company by doing things even gangs or thugs wouldn’t do. I feel devestated.

— Hong Seung Sung

Cube Entertainment is currently home to Jo Kwon, Jang Hyunseung, BTOB, CLC, PENTAGON, (G)I-DLE, Lai Kuanlin, and Yoo Seonho.