Artist Company files criminal complaint over suspected embezzlement

Artist Company, the entertainment agency co-founded by actors Lee Jung Jae and Jung Woo Sung, has filed a criminal complaint against five individuals for suspected embezzlement and breach of trust. The complaint, submitted to Seoul’s Gangnam Police Station on October 22, targets a former unregistered executive and four others.

An investigation conducted with an external law firm estimated the financial loss at approximately 681.76 million won (roughly $515,000 USD), which represents about 1.49% of the company’s equity as of the end of 2025. The company noted that these figures are not final and may change based on law enforcement findings and court decisions.

The legal action follows an initial disclosure of suspected misconduct on September 17. The controversy coincides with the recent resignation of co-founder Jung Woo Sung from the company’s board on October 2, several months before his term was set to expire. While Jung resigned as an internal director, he maintains a 10.99% ownership stake and remains affiliated with the agency as an actor.