SM Entertainment’s former executive producer Lee Soo-man was confirmed as a major shareholder of a bio company
According to the Financial Supervisory Service’s Data Analysis, Retrieval and Transfer System on Nov 21st, Progen, a company developing the next-generation candidate substance for obesity treatment, announced that Lee Soo-man holds 7.23% (1,378,447 shares). Based on the previous day’s closing price (2,580 won), the value of Lee Soo-man’s Progen stake is about 3.6 billion won.
Upon investigating details about major shareholders, it was revealed that Lee Soo-man’s occupation is listed as a businessman at Culture Technology Group Asia Corporation. This company is known to be Lee Soo-man’s private company. Industry analysts interpret Lee Soo-man’s investment in Progen as a reflection of his longstanding interest in future industry technologies, rather than an intention for business participation.
Lee Soo-man, who is known to have transferred his SM stake to HYBE for around 400 billion won, announced his departure from SM after the acquisition by Kakao at the end of March this year, stating, “As always, I’m moving towards the future.”
Since then, he has been involved in various investments and projects. He invested in the unmanned vehicle autonomous cluster control company Pablo Air. Through Blooming Grace, where he serves as Chairman and CEO, he has been actively involved in ESG (Environmental, Social, Governance) activities such as tree planting.
Source: Nate
