Actors Jung Woo-sung and Lee Jung-jae announced that Artist United, in which they both invested, has sold shares held by a special related person of Lee Jung-jae, the largest shareholder, on the market.

From left, actor Lee Jung-jae, Brooke Shields, Lee Byung-hun. /Courtesy of Instagram

According to the Financial Supervisory Service's electronic disclosure system on the 24th, Lee Jung-jae, a director of Artist United, disclosed that on the previous day (23rd), a related person sold 216,007 shares of the company on the market. Actor Lee Jung-jae, who serves as a director of Artist United, is the largest shareholder of the company.

Lee Jung-jae's related person sold 216,007 shares on the market, reducing Lee Jung-jae's holdings from 5,166,667 shares to 4,950,660 shares. The ownership ratio also decreased from 38.65% to 37.04%, a reduction of 1.61 percentage points.

Meanwhile, according to the Korea Exchange, on the previous day in after-hours transactions, Artist United's stock ended at 17,420 won, down 3.92% from the closing price (18,130 won).