In a surprising development, Lee Jung Jae, known for his role in Squid Game, and Park In Gyu, the former CEO of WYSIWYG Studios, are facing serious fraud allegations. According to a report by New Daily on August 10, Kim Dong Rae, CEO of RaemongRaein, the production company behind the popular JTBC drama Reborn Rich, filed a complaint against them in June at the Seoul Gangnam Police Station.
What’s the Allegation?
Kim Dong Rae’s legal team claims that Lee Jung Jae and Park In Gyu deceived him with false promises. They allegedly promised to use Lee Jung Jae’s industry connections to transform RaemongRaein into a global leader in drama production, securing major investments and management deals. According to Kim’s complaint, Lee and Park persuaded him to transfer shares in RaemongRaein with assurances of joint management and future growth.
However, Kim Dong Rae argues that their real aim was to gain control of RaemongRaein and redirect its strategy to acquiring another company, Chorokbaem Media. This company was suspended from trading, and the alleged use of RaemongRaein’s funds for this acquisition is claimed to violate their original agreement, which was supposed to focus on the growth of RaemongRaein.
Responses from the Parties Involved
Lee Jung Jae’s team has denied these accusations, asserting that there were no contractual obligations to secure investments or acquire additional companies. They argue that the contract was a straightforward agreement for transferring management rights and that no deceit was involved. Lee Jung Jae’s representatives have expressed frustration and have countersued Kim Dong Rae for false allegations.
The controversy has intensified as Lee Jung Jae’s team has taken legal action to seek damages and requested a shareholders’ meeting. They allege that Kim Dong Rae is blocking Lee Jung Jae and actor Jung Woo Sung from participating in RaemongRaein’s management, leading to a deeper conflict over the company’s control and direction.
Current Status
The Seoul Gangnam Police Station has completed initial inquiries with Kim Dong Rae and plans to question Lee Jung Jae and Park In Gyu as the investigation continues. This case, involving high-profile figures and serious allegations, is drawing significant public interest and is expected to reveal more details as it unfolds.
