Artist Company director Jung Woo-sung resigns amid embezzlement allegations

Actor Jung Woo-sung has resigned from his position as an executive director of Artist Company, the talent agency he co-founded with actor Lee Jung-jae in 2016. His resignation, effective April 2, comes approximately six months earlier than his scheduled term end in March 2025.

The leadership change occurs amid internal turmoil at the agency. Artist Company announced it is taking legal action against an unregistered high-level official suspected of breach of trust and embezzlement. The company is currently investigating the exact extent of the financial losses and plans to implement stricter internal controls, including dual-signature systems and enhanced auditing, to prevent future misconduct.

Despite stepping down from the board, Jung Woo-sung remains a major shareholder with a 10.99% stake and continues to be an actor under the agency. Lee Jung-jae maintains a 27.10% stake. While the exact reasons for Jung's early departure have not been officially confirmed, public speculation has linked the move to both the company's internal legal issues and his own recent personal controversies.