Acclaimed actor Lee Jung-jae, best known for his role in the global hit series “Squid Game,” is currently under investigation for alleged fraud in South Korea.
Authorities at Seoul‘s Gangnam Police Station are investigating reports of violations of the country’s Specific Economic Crimes Act.
These allegations were brought forward by Kim Dong-rae, CEO of RaemongRein, who maintains that Lee and his partner, Park In-kyu, former CEO of WYSIWYG Studios, misled him with promises about business growth to persuade him to transfer his shares to them.
Who is Lee Jung-jae?
Lee Jung-jae is a South Korean actor born on December 15, 1972, in Seoul. He graduated with a master’s degree in theater and film from Dongguk University and has been a prominent figure in the South Korean entertainment industry for decades.
In addition to acting, Lee is an entrepreneur with interests in several businesses, including co-owning the agency Artist Company with actor Jung Woo-sung.
His career includes numerous roles in film and television, although he continues to stand out recently for his role in “The Squid Game,” which gained him international fame.
What is Lee Jung-jae accused of?
According to whistleblower Kim Dong-rae, Lee and Park convinced him to give up his shares with the promise that this would significantly benefit RaemongRein, a drama production company.
Following the transfer, Kim accuses the two of trying to remove him from the company’s leadership and focus resources on acquiring another company, Chorokbaem Media, with funds from RaemongRein.
Lee responded to these allegations with a countersuit for defamation and fraud, arguing that the terms of the contract were clear regarding the transfer of management rights.
What repercussions could Lee Jung-jae face as a result of the complaint?
While the investigation continues, the impact on Lee’s career remains uncertain. Lee’s legal response suggests a complicated and protracted court battle.
The case has captured public attention not only because of Lee’s high profile, but also because of the significant sums of money and legal implications involved.
This case raises questions about business governance and ethics in the entertainment industry in South Korea.
When is Squid Game 2 released?
Recently, Netflix revealed that Squid Game season 2 of the hit series will premiere on December 26, 2024, and will continue until the final season in 2025.
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