Jung Woo Sung has resigned as an inside director at Artist Company, the agency he co-founded with his longtime friend Lee Jung Jae. Following the news, the company’s stock price fell more than 6 percent.
Artist Company’s stock fell 6.02% to 3,905 won ($2.93) at 9:51 AM on October 12th. By 1:36 PM, it had dropped further to 3,815 won ($2.86).
Jung Woo Sung submitted his resignation on October 2nd, about six months before his term was scheduled to end on March 28th, 2027.
Despite stepping down from the board, Jung Woo Sung has not sold any of his shares in the company. He currently owns 1,714,108 shares, representing a 10.99% stake. Lee Jung Jae remains the company’s largest shareholder, with 4,225,882 shares, or 27.10%.
Jung Woo Sung is still listed as an actor on Artist Company’s official website. The agency has not yet explained why he resigned from his director position.
Jung Woo Sung and Lee Jung Jae co-founded Artist Company in 2016. The agency initially focused on managing actors but has since expanded into film and drama production.
>> Lee Jung Jae’s Artist Studio Producing K-pop Spy Film with Andy Serkis’ Imaginarium
In the meantime, watch trending K-dramas for free on Amasian TV.
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