Actors Jung Woo-sung and Lee Jung-jae are investing together in Artist United, which is showing a strong performance of over 5% on the morning of the 13th. This is believed to be due to the increased possibility of a merger with Artist Company.
According to the Korea Exchange, as of 10:41 a.m. on that day, Artist United was trading at 17,550 won, which is an increase of 950 won (5.72%) from the previous session in the KOSDAQ market.
Artist United held an extraordinary shareholders' meeting on that morning and passed the motion to approve the merger with the unlisted Artist Company. The election of directors was also approved with more than half of the votes cast in favor and at least one-fourth of the total shares issued.
Earlier, due to an investigation by financial authorities into suspicions of front-running, the stock price of Artist United plummeted by 19.73% to close at 13,590 won on the 6th of this month. Subsequently, expectations for the success of the Netflix series Squid Game Season 2, featuring Lee Jung-jae, boosted the price back up to 16,610 won on the 12th.