Lee Jung-jae‘s agency, Artist Company, has released its position regarding the financial authorities’ investigation.

On the 6th, Artist Company told Donga.com, “It is true that Wider Planet was under investigation by the financial authorities in the past. However, Artist Company and Lee Jung-jae are not subjects of the investigation.”

Artist Company added, “Furthermore, Lee Jung-jae had absolutely nothing to do with any illegal acts such as information leaks or insider trading at the time of Wider Planet‘s third-party allocation capital increase. We will actively respond so that we can clear up any misunderstandings about Lee Jung-jae and Artist United.”

He added, “We will thoroughly respond so that shareholders are not harmed by filing charges against those involved in insider buying or information leaks through Artist United’s own investigation.”

It was previously reported that financial authorities had investigated Artist Company, the agency founded by Lee Jung-jae and Jung Woo-sung. The financial authorities have begun a full-scale investigation into allegations of insider trading and other unfair trading at Wider Planet (now Artist United), which had attracted attention due to Lee Jung-jae and Jung Woo-sung’s participation in the acquisition battle.

However, Artist Company and Lee Jung-jae drew the line, saying that they were not subjects of the investigation. However, they did acknowledge that Wider Planet was being investigated by the financial authorities.


● Here is the full text of Artist Company’s official position:

It is true that Wider Planet was under investigation by financial authorities in the past. However, Artist Company and Lee Jung-jae are not the subjects of the investigation.

Moreover, Lee Jung-jae had absolutely no involvement in any illegal activities such as information leaks or insider trading during Wider Planet’s third-party allocation paid-in capital increase, and we will actively respond to resolve any misunderstandings that Lee Jung-jae and Artist United are receiving.

In addition, Artist United will thoroughly respond to prevent damage to shareholders by suing and reporting those involved in insider buying or information leaks through its own investigation.

Hong Se-young, Donga.com reporter projecthong@donga.com