Lee Jung-jae&Jung Woo-sung's Partnership Changes... Artist Studio Changes Name

Jung Woo-sung Steps Down as In-house Director of Artist Company, Retains StakeArtist Company to Pursue Name Change at Extraordinary Shareholders' Meeting on the 26th... Business Scope to ExpandThe agency Artist Studio, co-led by actors Lee Jung-jae (left) and Jung Woo-sung, faces multiple changes following Jung Woo-sung's resignation and a subsequent name change. /THE FACT DB[THE FACT|Reporter Kim Saet-byul] Changes continue to unfold in the businesses built by Lee Jung-jae and Jung Woo-sung. Previously, Jung Woo-sung stepped down from his position as an in-house director at Artist Company, which the two co-founded. Meanwhile, Artist Studio, where Lee Jung-jae's side secured management rights, is preparing for a new beginning by changing its name to 'Studio Solsol'.According to the Financial Supervisory Service's Electronic Disclosure System (DART) on the 18th, KOSDAQ-listed company Artist Studio will propose a motion to change its name to 'Studio Solsol' at an extraordinary shareholders' meeting on the 26th. This comes about two years after the name Artist Studio began to be used, following Lee Jung-jae's side securing management rights in 2024.The upcoming extraordinary shareholders' meeting will also discuss changes to the company's business objectives. The plan is to expand the business scope by adding exhibition and convention services, event operation agency, and art content-related businesses to the articles of incorporation. This is interpreted as a move to broaden the scope beyond the existing focus on video content production.Artist Studio is a KOSDAQ-listed production company based on Raemongraein, which produced the drama 'Reborn Rich'. After Lee Jung-jae's side secured management rights in October 2024, the company's name was changed to Artist Studio. It is a separate entity from Artist Company, an actor management agency co-founded by Lee Jung-jae and Jung Woo-sung in 2016. Subsequently, through business restructuring, the names of the two companies were shared, and the influence of the two individuals was highlighted.However, this name change marks the establishment of a new brand. Prior to this, differences also emerged in how Lee Jung-jae and Jung Woo-sung participated in management. Jung Woo-sung resigned as an in-house director of Artist Company on the 2nd. His term was originally set to expire on March 28, 2027, but he stepped down with about six months remaining.Jung Woo-sung was appointed as an in-house director of Artist Company along with Lee Jung-jae on March 29, 2024. However, even after stepping down from the director position, he still holds 1,714,108 shares of the company. His stake remains unchanged at 10.99%, and his relationship as an affiliated actor continues to this day.Lee Jung-jae also disposed of some of his shares in Artist Studio. On September 1st, he sold 408,345 shares for approximately 5.5 billion won, reducing his personal stake from 5.04% to 0.95%. Subsequently, due to effects such as a rights offering, his stake further decreased to 0.83%.However, it has not been confirmed whether the changes in their shareholdings and Jung Woo-sung's resignation as an in-house director are directly related to the name change. The specific reasons for Jung Woo-sung's resignation have not been disclosed. To date, no facts have been confirmed to support personal conflicts between the two or the termination of their business partnership.Lee Jung-jae and Jung Woo-sung first met through the movie 'No. 3', released in 1999. Since then, they have been known as the representative best friends in the entertainment industry, maintaining a long-standing friendship and joining forces in business. The two co-founded the actor management agency Artist Company in 2016. They later expanded their business to include film and drama production, and in 2022, they collaborated on the film 'Hunt', with Lee Jung-jae directing and starring, and Jung Woo-sung also appearing.Meanwhile, Jung Woo-sung faced personal controversy in November 2024 when he admitted to being the biological father of model Moon Ga-bi's son. Subsequently, it was revealed in August of last year that he had registered his marriage with a non-celebrity partner. Regardless of personal issues, his acting career continues steadily. He recently met viewers through seasons 1 and 2 of the Disney+ series 'Made in Korea'.Lee Jung-jae is scheduled to meet audiences with his next project, the film 'Project Silence', following his appearances in last year's Netflix series 'Squid Game' and tvN's 'Yalmiun Sarang'.sstar1204@tf.co.kr[Entertainment Desk | ssent@tf.co.kr]