Jang Hyun-kook, former CEO of Wemade

 

[Alpha Biz= Reporter Kim Sangjin] On September 6, Jang Hyun-guk, former CEO of Wemade, resigned from his position as CEO of Wemade Max, citing personal reasons. Wemade Max announced that it will now operate under a single CEO, Lee Gil-hyung, following Jang's departure.

Jang's resignation comes as he and Wemade have been indicted by the Seoul Southern District Prosecutors' Office on September 5 for violations of capital markets laws. The indictment alleges that Jang falsely announced in early 2022 that the circulation of the cryptocurrency WEMIX would be halted, misleading investors into purchasing the coin. This action is said to have prevented a drop in Wemade's stock price and WEMIX’s market value, resulting in unquantifiable benefits.

Jang had stepped down from his roles as CEO of Wemade and WEMIX Korea in March this year, when Park Kwan-ho, the founder of Wemade, returned to lead the company. Jang now serves as a vice chairman of the Wemade Group.

Jang’s first court hearing is scheduled for September 24 at the Seoul Southern District Court.

 

 

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