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| ▲ This image provided by the Screen Actors Guild Awards highlights Lee Jung-jae of "Squid Game" as the winner of Outstanding Performance by a Male Actor in a Drama Series on Feb. 27, 2022. (PHOTO NOT FOR SALE) (Yonhap) |
SEOUL, Oct. 31 (Yonhap) -- South Korean drama production company RaemongRaein, known for hit Kdrama "Reborn Rich," has come under the management of Lee Jung-jae's faction and has been renamed "Artist Studio."
Artist United, where Lee Jung-jae holds a majority stake, announced on Thursday that it had "achieved a decisive victory," following RaemongRaein's extraordinary shareholders' meeting
Artist United explained that the reappointment of current CEO Kim Dong-rae was withdrawn by Kim himself and was not proposed as an agenda item. All board member appointments for key personnel associated with Lee Jung-jae and Artist United—including Lee Jung-jae, Jung Woo-sung, Lee Tae-sung, and Park Hye-kyung—were approved.
Artist United also noted that Kim's proposed amendments to the articles of association were rejected, while all other items introduced by Lee and Artist United were passed. Lee Tae-sung, Artist United's CEO, was appointed to replace Kim Dong-rae as CEO.
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| ▲ South Korean actor Lee Jung-jae poses for photos during a press conference for the new Star Wars series "The Acolyte" held at CGV Yongsan I'Park Mall in Seoul on June 5, 2024. (Yonhap) |
Following the shareholder meeting, Artist United confirmed the company name change to "Artist Studio," highlighting the strong growth potential created by merging RaemongRaein's content production expertise, including hit series like Reborn Rich, with the synergy brought by top-tier artists like Lee Jung-jae and Jung Woo-sung.
Earlier this year, Artist United became the largest shareholder of RaemongRaein through a capital increase but subsequently clashed with founder and CEO Kim Dong-rae over management direction.
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