Artist Company, the entertainment agency whose largest shareholder is actor Lee Jung Jae, has filed a criminal complaint against five former executives and employees over an alleged breach of trust involving approximately 681.76 million won.
On October 22, Artist Company announced through a regulatory filing that it had submitted a criminal complaint to the Gangnam Police Station in Seoul against five individuals, including a former executive identified only as A.
The complaint alleges occupational breach of trust under South Korea's Act on the Aggravated Punishment of Specific Economic Crimes.
According to the company, the case follows an earlier disclosure on September 17 concerning suspected misconduct involving an unregistered executive.
Artist Company subsequently conducted an internal investigation with the assistance of a law firm.
The investigation reportedly identified 681.76 million won (approximately $480,000) in alleged financial losses connected to the suspected breach of trust.
The amount represents the company's findings from its internal investigation, and the allegations have not been established by a court.
Meanwhile, actor Jung Woo Sung's recent departure from Artist Company's board of directors has also attracted attention.
Jung Woo Sung resigned from his position as an inside director on October 2, approximately six months before his term was scheduled to end.
Although he stepped down from the board, the actor reportedly continues to hold around 10.99% of Artist Company's shares.
The company has not established any connection between Jung Woo Sung's resignation and the criminal complaint against the five former staff members.
Artist Company is a major South Korean entertainment agency representing several well-known actors, including Lee Jung Jae, Jung Woo Sung, Yum Jung Ah, Lim Ji Yeon, Kim Hye Yoon, Park Hae Jin, and Jo Yi Hyun.
With the criminal complaint now submitted to police, the case concerns allegations against the five former personnel. Their legal responsibility has yet to be determined.
Artist Company, the entertainment agency whose largest shareholder is actor Lee Jung Jae, has filed a criminal complaint against five former executives and employees over an alleged breach of trust involving approximately 681.76 million won.
On October 22, Artist Company announced through a regulatory filing that it had submitted a criminal complaint to the Gangnam Police Station in Seoul against five individuals, including a former executive identified only as A.
The complaint alleges occupational breach of trust under South Korea's Act on the Aggravated Punishment of Specific Economic Crimes.
According to the company, the case follows an earlier disclosure on September 17 concerning suspected misconduct involving an unregistered executive.
Artist Company subsequently conducted an internal investigation with the assistance of a law firm.
The investigation reportedly identified 681.76 million won (approximately $480,000) in alleged financial losses connected to the suspected breach of trust.
The amount represents the company's findings from its internal investigation, and the allegations have not been established by a court.
Meanwhile, actor Jung Woo Sung's recent departure from Artist Company's board of directors has also attracted attention.
Jung Woo Sung resigned from his position as an inside director on October 2, approximately six months before his term was scheduled to end.
Although he stepped down from the board, the actor reportedly continues to hold around 10.99% of Artist Company's shares.
The company has not established any connection between Jung Woo Sung's resignation and the criminal complaint against the five former staff members.
Artist Company is a major South Korean entertainment agency representing several well-known actors, including Lee Jung Jae, Jung Woo Sung, Yum Jung Ah, Lim Ji Yeon, Kim Hye Yoon, Park Hae Jin, and Jo Yi Hyun.
With the criminal complaint now submitted to police, the case concerns allegations against the five former personnel. Their legal responsibility has yet to be determined.
