Park Min Young’s CEO boyfriend has unexpected connections with top actors Jung Woosung, Lee Jungjae and Ha Jungwoo

Park Min Young’s controversial rich boyfriend is connected to 3 A-list actors. 

According to Dispatch, Park Minyoung‘s rumored boyfriend Kang Jonghyun has business relationships with many companies, including serving as a hidden CEO for companies namely Vidente, Inbiogen, Bucket Studio, and Bithumb Live. Kang Jonghyun’s name does not appear on any documents related to these companies. The CEO on paper is Kang Jiyeon, his sister. These companies gain attention on the KOSDAQ but in reality, they have no clear business model, structure, or achievements.

Lee Jungjae, Jung Woosung and Ha Jungwoo invested in Vidente

Lee Jungjae and Jung Woosung are known to be best friends. They live in the same villa and are dubbed the ‘Cheongdamdong Couple’. In fact, among Korean celebrities, Lee Jungjae and Jung Woosung are known as ‘investment entrepreneurs’. What makes them so close is that they share a common business goal.  After establishing the entertainment agency Artist Company in 2016, the two have jointly invested in various areas.

A prime example is their investment in the blockchain market in 2017. Lee Jungjae and Jung Woosung, who were running Artist Company by signing contracts with actors, drew attention by suddenly appointing a person without any connection to the entertainment industry or management experience to become the CEO. At that time, when Bitcoin was still an unfamiliar foreign concept to many people in Korea, they made Kim Jaewook, an entrepreneur who is the largest shareholder of Bithumb, a Bitcoin exchange, the CEO. This was because they were soon aware of Bitcoin and quickly calculated for themselves.

That year, Lee Jungjae and Jung Woosung invested billions of won in Vidente, a company quite unknown to the public. The two invested 1 billion won and 2 billion won respectively in Vidente, a company that manufactures digital broadcasting equipment, where Kim Jaewook was the CEO at the time and also one of the  the main shareholders of Bithumb. Not only investing personally, Lee Jungjae and Jung Woosung also invested 500 million won in Vidente under Artist Company. Ha Jung Woo, an actor under Artist Company, also confirmed to have invested 500 million won in Vidente. It seems they had gone all in on Vidente.

What’s worth noting is, Vidente was suspended from trading in 2017 and is in danger of being delisted from the stock exchange. Vidente’s shares doubled in price on the first day of trading reopening due to investment rumors from famous actors such as Lee Jungjae, Jung Woosung and Ha Jungwoo. Vidente explained that Lee Jungjae, Jung Woosung, and Ha Jungwoo had invested on Kim Jaewook’s advice, but many said that it was no coincidence that Lee Jungjae and Jung Woosung had appointed Kim Jaewook to run Artist Company just before trading was reopened.

Vidente’s stock price jumped with the help of these A-list actors, and interest in Bithumb also skyrocketed. Lee Jungjae, Jung Woosung and Ha Jungwoo seem to have made quite a profit from the market arbitrage thanks to this. To the point where it is said that the beneficiaries of virtual currency are not Bitcoin investors but investors on the exchange.

Bucket Studio benefits from ‘Squid Game’ effect

Their Bitcoin-based relationship continued until the release of Netflix original series ‘Squid Game’. The principle of using money to generate more money was applied here.  Lee Jungjae achieved huge success with ‘Squid Game’, leading to related companies having their profits soared as their stocks all received attention.

The production company of ‘Squid Game’ is Siren Pictures, a company not listed on the stock exchange.  Bucket Studio, a production company unrelated to the series, currently owns 15% of the shares of Artist Company, so it is closely related to Lee Jungjae and Jung Woosung. The stock price of Bucket Studio, which was only at 2,000 won, skyrocketed 4 times to 8,000 won after ‘Squid Game’. In addition, Bucket Studio entered the Live Commerce market (through The LIP, Bithumb Live) with an investment of 40 billion won from Bithumb and Vidente in the middle of this year.

The emergence of OTT services has changed the trend, and the distribution in the global content market. The success of ‘Squid Game’ has added value to K-content production companies. Although Bucket Studio was not involved in the production of ‘Squid Game’, the company’s stock price has seen an upward trend just because it has a connection to Lee Jungjae. Because those who dream of making short-term profits began to pay attention and believe in the power of K-content and invest in related stocks. Their interest in projects like Vidente and Bithumb also grew.