In the aftermath of four Ciipher members' withdrawal, netizens have questioned and criticized Rain's capabilities as CEO.

Here's what people are saying.

Rain Heavily Criticized for Losing Money He Invested in Boy Group Ciipher

Rain is being criticized because of Ciipher's situation.

Earlier on June 10, it was announced that four Ciipher members Tan, Tag, Dohwan, and Won have all withdrawn from the group. This was furthered by that Ciipher would be re-organized with the remaining members Hyunbin, Hwi, and Keita.

"The company has decided to respect the opinions of Ciipher members, as a mutual agreement was made that Tan, Tag, Dohwan, and Won will end their activities with the group starting today."

YOU MIGHT BE INTERESTED IN: Ciipher Faces Major Exodus-4 Members Say Goodbye, What's Next?

The news sparked criticism of Rain, the CEO of Rain Company, who happened to have lost a large amount of money that was used to invest in Ciipher.

According to a news outlet, Rain appeared on tVN's program "Take Care of Me This Week" in 2022, alongside former Ciipher member Tan.

Sources stated that Rain had expressed his admiration for Tan and Ciipher, leading to a conversation with actor and regular cast member Sung Dong Il.

Rain elaborated how he decided to invest a large sum of money into the boy group instead of a house. Their conversation is as follows:

Sung Dong Il: "I'm just wondering, how much did you invest in the group (Ciipher), Rain?"

Rain: "I probably could have bought a house with that money. Sometimes, I think about on why I produced them. I could've bought a house with it."

YOU MIGHT ALSO LIKE: Rain Shares He Almost Had Plastic Surgery + Reveals Who Asked Him to Do It

Seeing how huge the invested money was by inference, netizens then gathered on the Facebook comments section, where they criticized Rain's capabilities as CEO.

They also pointed out that Rain should never engage with business matters ever again and claimed that Ciipher was not the first group to experience a rough road under his management.

•  "Some people aren't fit to be a CEO or a group manager."
•  "He drove MBLAQ against a corner, then MADTOWN, and now Ciipher. Rain should stop (being a CEO) now for real."
•  "It's better for him to just continue being a singer. He is not good as a CEO, and this is not the first time it's happened to him."
•  "Business will always be a gamble, and now, the K-pop market is oversaturated with groups. This says how much success isn't guaranteed!"
•  "Rain is so awfully selfish for stating that. Don't make such a decision, since managing talents is different from being a soloist."
•  "You gave them the hope to dream and reach it together, but in the end, you left them hanging. It's disappointing."

What do you think of this situation? Let us know in the comments below!

Read KpopStarz for more K-pop news.

IN CASE YOU MISSED IT: Rain Recalls Time He's Penniless That He Couldn't Afford Proper Funeral for His Mother and Meal for His Siblings

KpopStarz owns this article
Written by Riely Miller