MC Mong Resigns as The Mu Director in February

Singer MC Mong (Shin Dong-hyun) has resigned from his position as an in-house director at The Mu Co., Ltd., a corporation where he was listed as a director. The company recently sold a building to broadcaster Noh Hong-chul. MC Mong resigned from his in-house director position at The Mu on February 19th, and this change was officially registered the following day, February 20th. The Mu was jointly established in November 2024 by MC Mong and CEO Cha Ga-won, with Cha Ga-won serving as CEO and MC Mong as an in-house director from its inception.

MC Mong's resignation from his in-house director role at The Mu coincides with the police launching an investigation into allegations of him obtaining sleeping pills through a proxy. The case began when Im Hyun-taek, former president of the Korean Medical Association, filed a complaint regarding allegations that MC Mong had his former manager obtain Zolpidem, a psychotropic drug, through a proxy prescription. According to Im, the case, initially filed through the 국민신문고 (National Civil Appeals Commission), was assigned to a police station in the Daejeon region before being transferred to the Gangnam Police Station in Seoul.

Following MC Mong's resignation, The Mu recently sold its building located in Sinsa-dong, Gangnam-gu, Seoul, to Noh Hong-chul for 15.2 billion won. The Mu had purchased this building from broadcaster Kang Ho-dong in November 2024 for 16.6 billion won, resulting in a loss of 1.4 billion won from this sale. Including financial costs such as acquisition tax and loan interest, the actual loss is estimated to be around 2 billion won.

Meanwhile, last November, Cha Ga-won filed a payment order for the return of a 12 billion won loan against MC Mong. The payment order became final as MC Mong did not file an objection within the designated period. MC Mong's side stated, "This is a normal debt repayment process, not a 12 billion won lawsuit."

In relation to this, One Hundred Dre stated, "The building in question is owned by Chairman Cha Ga-won's corporation and has no connection to MC Mong." However, interpretations are divided because MC Mong was listed as an in-house director from the company's establishment until February of this year. The Mu's capital was increased from 100 million won at its founding to 800 million won in March of last year, but this was an extremely small amount compared to the 16.6 billion won used to purchase the building.