Im Chang-jung's Mimi Rose Fails ₩20 Billion Investment

News that singer and producer Im Chang-jung was a victim of investment fraud by a stock manipulation group has raised concerns about the girl group "Mimirose," which he produced. Some argue that it is inappropriate for Im Chang-jung to mention the girl group again while discussing his financial losses, and voices are being raised questioning whether his investment and marketing strategies are crushing the dreams of the girl group members.

Im Chang-jung became embroiled in suspicion after it was revealed that he had invested 3 billion won based on the principal amount with a stock manipulation group. Although he claimed to be a victim himself immediately after the incident, as the situation worsened, he stated in a further statement that he met with related individuals through an acquaintance's introduction and was told that they manage investments by entrusting stock accounts of famous wealthy individuals, and was offered high rates of return. He claimed that after opening the accounts, he did not know the specific stocks or transaction details and was unaware of anything until the incident broke out.

However, many in the securities industry reacted by saying, "It is difficult to understand how he did not notice anything unusual even after handing over his ID and mobile phone." The prevailing opinion is that someone with Im Chang-jung's extensive business experience would have at least sensed something was amiss. While this situation could end as Im Chang-jung's personal investment failure, the real problem is that his investment failure could spill over to the girl group "Mimirose." Im Chang-jung mentioned Mimirose during his explanation immediately after the incident, saying, "I have to proceed with our girl group tomorrow, and I don't have any money."

Im Chang-jung has previously stated on broadcasts that he invested over 20 billion won in the production of Mimirose. In a broadcast interview in February, he revealed that he sold the copyrights to about 170 songs he owned and invested 20 billion won. As a result, the public's perception of Mimirose has been strongly shaped by the idea of "a girl group that cost 20 billion won" rather than their music or performances.

Because of this, some in the music industry have criticized, "Is Im Chang-jung using the girl group for begging marketing?" It is analyzed that the fact that Im Chang-jung publicly announced the large sum of money he spent would have been a significant burden for the Mimirose members themselves.