RaemongRaein, the South Korean drama production house behind the successful series “Reborn Rich,” underwent a leadership overhaul as Artist United seized control through a shareholder vote, ending months of management disputes.
The studio, which will be renamed Artist Studio, saw its founder and CEO Kim Dong-rae step down after withdrawing his reappointment bid at an extraordinary shareholder meeting. Artist United, which became the largest shareholder earlier this year, installed its own CEO Lee Tae-sung to lead the company.
The boardroom shake-up follows rising tensions between Kim and Artist United over the company’s direction after the investment group, backed by “Squid Game” star Lee Jung-jae, acquired a controlling stake. The meeting rejected Kim’s proposed governance changes while approving Artist United’s agenda items.
RaemongRaein’s new board will include Lee Jung-jae and veteran actor Jung Woo-sung, signaling a shift in strategy for the content producer. The company aims to merge its proven track record in drama production with the entertainment industry connections of its new leadership.
The power shift highlights the increasing competition in Korea’s content production sector as streaming platforms fuel demand for local programming.
