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Squid Game’s Lee Jung Jae secures 18 billion KRW funding to expand into drama production; know more
Artist Company, co-founded by Lee Jung Jae, secured significant collaboration funding from MBN for a joint venture. Here's what we know about the partnership.
Lee Jung Jae's agency, Artist Company, recently secured a profitable deal with Maekyung Media Group (which includes MBN), as reported by K-media outlet Maeil Business Newspaper on April 22. The company received a massive investment of 18 billion KRW (approximately 13 million USD). This significant funding not only secures the agency's future but also potentially paves the way for bigger productions, which could lead to greater profits.
On April 22, Artist Company and Maekyung Media Group confirmed the completion of their investment deal through regulatory filings, formalizing their strategic partnership. The collaboration aimed to target the global K-content market and produce and broadcast unique projects. Reportedly, Lee Jung Jae's Artist Company will now collaborate with MBN to develop a comprehensive "all-in-one system" for production, distribution, and broadcasting.
If this partnership proves to successfully achieve its target, they are expected to establish themselves as a major force in Korean content, potentially on par with Studio Dragon. The Squid Game star's agency also commented on the strategic union with MBN and cited their next plans. A representative of Artist Company said, "The investment worth 18 billion won has laid an important foundation for further strengthening content competitiveness."
Given that Lee Jun Jae is reportedly currently the highest-paid Korean actor, the 18 billion KRW investment could further amplify his career and projects. Confirming their first collaborative work, they said, "We will continue to produce groundbreaking and creative works starting with First Lady in the second half of the year to take responsibility for trends in the K-content market." The drama stars Eugene, Ji Hyun Woo and Lee Min Young in lead roles and is written by the writer of Dream High 2, Kim Hyung Wan. It is slated to premiere on MBN in late 2025.
The story centers around a dramatic plot where the president requests a divorce from his wife right as she's about to become the First Lady. Given its talented cast and intriguing storyline, the series is likely to perform well and generate significant revenue. As MBN Studio steps up its game to produce globally competitive dramas with Artist Company, it will be interesting to see if it can make a significant impact and join Korea's top-tier content creators.
