Lee Jungjae and Artist Company Prevail in Court
Lee Jungjae, the award-winning actor known for Squid Game, and his entertainment label Artist Company have secured a legal victory involving a high-stakes battle over the management rights of Artist Studio (formerly Lemon Rain).
What Was the Legal Dispute About?
The case dates back to 2024, when Artist Company completed its investment and takeover of Artist Studio, a Korean media production company. However, a group of minority shareholders challenged the move, filing a lawsuit to nullify the issuance of new shares, arguing it had been unlawful.
Court Dismisses Minority Shareholder Claims
In a recent ruling, the Seoul Central District Court rejected all claims brought by the dissenting shareholders. The court declared that the process—Artist Studio’s paid-in capital increase and the issuance of new stock to investors—was carried out legally. That means investors, including Artist Company, legitimately acquired their stakes and management control.
It’s not the first time the minority group tried to block the deal. Earlier injunction requests and appeals also failed, including one at the Supreme Court. With this ruling, the legitimacy of Artist Company’s acquisition is now legally airtight.
Legal Team Weighs In
Lawyers Kang Incheol and Do Hyunsoo of Law Firm Lin, representing Artist Company in the case, shared: “This verdict acknowledges the investors’ rightful acquisition of shares and the lawful takeover. It clears away baseless disputes that only fuel unnecessary instability in business operations.”
What This Means for Lee Jungjae’s Company
Artist Company, co-founded by Lee Jungjae and Jung Woosung, is more than just an agency—it’s a full-service entertainment company shaping Korea’s media landscape. With total control over Artist Studio, it now has a key content generator under its wing.
In short? The court’s decision not only cements Artist Company’s strategic expansion—it also reassures investors and studios watching from the sidelines. And for Lee Jungjae, it’s another power move—this time, from actor to industry mogul.
