The Korean entertainment industry has been hit with more unfortunate news. Entertainment agency SPHERES recently announced that all investment funds for the company have been withdrawn, leaving it with virtually no capital to continue operations. As a result, all artist activities and planned projects, including the long-prepared boy group BOY19ER, will be halted. Even the solo debut plan for former 24K member Seokjun (석준) has been canceled.
SPHERES released an official statement on September 28, revealing that the company's current financial situation can no longer support its original activity schedule, forcing it to suspend all artists and related projects. The company stated that it had been actively preparing a new idol group, garnering significant fan attention and anticipation, but due to "the complete withdrawal of all company investment funds," further progress on the plans became impossible.
SPHERES explained that it had explored various options to keep the original plans on track. However, considering the company's current reality, it became difficult to maintain the planned activities and debut schedule, leading to the difficult decision to terminate the projects.
Not only are artist debut plans affected, but employees and staff who were involved in the preparatory work will also be unable to continue with the projects. In its announcement, the company expressed deep regret to all staff who had dedicated their time and effort to the project, and sadness that the plans could not be brought to fruition.
Furthermore, SPHERES revealed that, in addition to the idol group, other business ventures and content projects that the company had been preparing are also difficult to continue due to the current financial situation.
The company concluded by apologizing to fans who had waited and supported them, stating, "We are deeply sorry for having to deliver this news so suddenly." It also emphasized that the project had been in preparation for a considerable time, and the company equally regretted having to make this decision.
BOY19ER was first announced to the public in 2025, and by early 2026, plans related to their debut were still being revealed. Expectations for the new group's official launch were high.
Former 24K member Seokjun had also announced his joining SPHERES in 2025. Seokjun was previously a member of the pre-debut boy group HALF&HALF. After joining SPHERES, he was slated to serve as BOY19ER's main producer. Now, with SPHERES announcing its inability to continue operations due to investment withdrawal and insufficient funds, BOY19ER's debut plans have officially fallen through, and Seokjun's planned solo debut is also affected.
The company concluded by expressing gratitude for the attention and support received thus far, stating that it would continue to seek new opportunities in the future and hoped to meet everyone again with better news.
