Photo = Yonhap news

 

[Alpha Biz= Reporter Kim Sangjin] The merger between Artist United and Artist Company, both of which are linked to actor Lee Jung-jae and his close friend Jung Woo-sung, is set to begin this month.

According to the Financial Supervisory Service's DART system on December 1, Artist United announced a shareholders meeting on November 28, where the merger with Artist Company will be officially approved on December 13.

In this merger, Artist United will remain as the surviving entity, while Artist Company will dissolve. The merger ratio will be 1 to 229.1.

Lee Jung-jae became the largest shareholder of Artist Company last December after participating in a 190 billion KRW capital increase by Wider Planet.

Founded in 2013 by Jung Woo-sung and Lee Jung-jae, Artist Company manages talents such as Ahn Sung-ki, Lee Jung-jae, Jung Woo-sung, Yum Jung-ah, Park So-dam, Im Ji-yeon, and Park Hae-jin.

Despite the merger, there will be no change in management control or the largest shareholder since Lee Jung-jae holds the majority stake in both companies. Lee owns 23.49% of Artist United, while Jung Woo-sung holds 4.70%.

After the merger, Lee Jung-jae's stake in Artist United will rise to 27.10%, while Jung Woo-sung’s stake will increase to 10.99%. The merger is scheduled to take effect on January 17, 2025.

 

 

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