Actor Lee Jung Jae has stepped down from his position as an inside director of Artist Studio, the production company behind the hit drama “Reborn Rich.”
His departure comes amid a major restructuring of the company’s ownership, with Maeil Broadcasting Network (MBN) emerging as its largest shareholder.
The development marks a significant change for the company, which was rebranded as Artist Studio in 2024 after Lee Jung Jae and his business associates secured management control of its predecessor, RaemongRaein.
The latest changes also include a new company name and a reduction in the shareholding held by Lee’s business group.
According to regulatory filings submitted to South Korea’s Financial Supervisory Service, Lee resigned from his board position on October 25, 2026.
The company subsequently approved a proposal to change its name to Studio Ssol Ssol on October 26, before MBN became its largest shareholder on October 30.
Lee Jung Jae Exits Artist Studio Board Amid Ownership Restructuring
Lee Jung Jae’s resignation from the board comes as Artist Studio undergoes another major corporate transition.
MBN secured a 20.06 percent stake in the production company on October 30, officially becoming its largest shareholder.
Lee had stepped down from his position as an inside director five days earlier.
Although he is no longer part of the company’s board, he continues to hold 95,179 shares, representing a 0.83 percent stake.
Artist Studio was formerly known as RaemongRaein, the production company responsible for the popular JTBC drama “Reborn Rich,” starring Song Joong Ki.
In 2024, Lee Jung Jae and his business associates became involved in a management dispute with the company’s founder and former CEO, Kim Dong Rae.
Lee’s side secured control during a shareholders’ meeting on October 31, 2024.
Following the change in management, Lee and fellow actor Jung Woo Sung joined the board, and the company adopted the name Artist Studio.
The latest developments represent a substantial shift from the structure established at that time. Artist Company’s shareholding in Artist Studio has reportedly decreased from 15.78 percent to 2.43 percent, while Lee’s personal stake remains at 0.83 percent.
The company also approved a resolution on October 26 to change its name to Studio Ssol Ssol, removing the Artist Studio identity adopted less than two years earlier.
Artist Company Faces Separate Legal Developments as Business Ties Change
Alongside the changes at Artist Studio, a separate legal matter involving Artist Company has also drawn attention.
Lee Jung Jae is the largest shareholder of Artist Company, the talent agency that manages actors including Lee and Jung Woo Sung.
On October 22, Artist Company filed a criminal complaint with the Seoul Gangnam Police Station against five former executives and staff members, alleging occupational breach of trust.
The agency estimated the alleged financial damage at approximately 681.76 million won.
The amount was calculated following an internal audit conducted with the assistance of an outside law firm.
The allegations remain subject to investigation, and the final findings will depend on the relevant legal proceedings.
Changes have also affected Jung Woo Sung’s role at Artist Company.
He resigned as an inside director of the agency on October 2, although he continues to hold a 10.99 percent stake and remains an actor represented by the company.
The developments involving both actors have prompted attention towards the future direction of their business ventures.
However, Lee Jung Jae’s departure from Artist Studio’s board does not mean that he has completely severed his financial connection with the production company, as he retains a minority shareholding.
With MBN now holding the largest stake and the company adopting the name Studio Ssol Ssol, Artist Studio is entering a new phase of ownership and management.
The changes also mark a notable shift from the original business structure built around Lee Jung Jae and Jung Woo Sung’s involvement.
