After much controversies, the CEO of Core Contents Media, Kim Kwang Soo steps down from his position as CEO.
Core Contents Media is an entertainment agency which he found in 2006. CCM also the main label in CJ E&M, producing some idols group T-ARA, Five Dolls, Gangiz, The SeeYa, and SPEED. MBK Entertainment is a subsidiary label or a re-branded name of Core Contents Media with some structure changing.
This issue might linked to the police investigation of Kim Kwang Soo because of the suspicious financial exchange with one of the actress. T-ARA also expanding their market to China with $5 billion won contract, they use MBK Entertainment name instead of Core Contents Media.