This article was displayed on the ChosunBiz MoneyMove (MM) site at 4:25 p.m. on Jun. 8, 2026.
The agency of girl group L'ESSENT, which gained buzz with online "memes" such as "Geoje ya~ho," completed a new funding round of 2 billion won. It initially aimed to raise more than 5 billion won, but reduced the size as demand for funds fell amid a reverse-chart surge. The company chose to expand its scale first and then pursue a large investment round.
According to the venture capital (VC) industry on the 8th, L'ESSENT's agency The Muse Entertainment recently conducted a Series A funding round and closed it early at around 2 billion won. It was about three years after a pre-Series A round in May 2023, and Knet Investment Partners and JB Investment joined as new investors.
The Muse Entertainment is a talent agency founded at the end of 2020 by CEO Lee Ju-heon, a member of the vocal group Highbrow. Girl group L'ESSENT, which debuted in Mar. 2024, is both its flagship act and only signed artist, and CEO Lee, who majored in composition at Berklee College of Music in the United States, is said to have been directly involved in their development.
The company was initially said to have set a goal of securing more than 5 billion won in investment to fund new album production and operating expenses. Even until early last month, it held investor relations (IR) meetings with major domestic VCs, but it ultimately wrapped up the Series A round at around 2 billion won, less than half the target.
L'ESSENT's steep rise in popularity led to the early close of the new funding. Recently, member Wonyi's YouTube channel "HelloThisIsWonyiNiceToMeetYou" (Angwonjalbu) drew attention, boosting interest in the group, and L'ESSENT's past songs in turn staged a reverse run on the music charts.
In particular, a scene of L'ESSENT's Japanese member Minami saying "Geoje ya~ho" while chatting with Wonyi spread as an online meme, lighting a fire under their popularity. L'ESSENT's first mini-album title track "Love Attack," released in Aug. 2024, even entered the "Top 10" on domestic music platforms.
The Muse Entertainment decided to seek a large investment round after further proving L'ESSENT's box-office momentum. Because a talent agency's corporate value can soar in a short period depending on the success of its artists, the strategy is seen as boosting fundraising efficiency by pursuing a large round down the line.
A company official said, "We smoothly completed this 2 billion won Series A funding round within the planned schedule," adding, "We determined that it is more important at this point to focus on the internal growth of the artists and the company rather than external activities such as investor engagement."
Meanwhile, The Muse Entertainment has remained in the red since its founding. Last year's revenue was 1.8 billion won, down from 2.1 billion won the previous year, while operating loss widened to 5.6 billion won from 200 million won over the same period. Online, an old video of L'ESSENT performing on an elementary school playground is also getting renewed attention.