Lee Jung-jae's Studio Drops 'Artist' From Its Name Less Than Two Years After Launch

Artist Studio, the KOSDAQ-listed drama producer formerly known as Lemonlane, will hold an extraordinary shareholders' meeting on the 26th to vote on changing its name to Studio Ssolssol, according to a filing posted Sunday (the 18th) on the Financial Supervisory Service's electronic disclosure system. The proposed amendment would remove the word "Artist" less than two years after Lee Jung-jae and Jung Woo-sung's names were used to launch the company.

The move reverses the pitch made at the start. Lemonlane, the producer of the drama Reborn Rich, came under Lee Jung-jae's camp after a management dispute that ended on October 31, 2024. Lee and Jung were appointed inside directors, and the company took the Artist Studio name at the same time.

A launch sold on star power

At the time, Artist United (now Artist Company), then Lee's largest shareholder vehicle, said it had won a "decisive victory" at the shareholders' meeting. It also said the studio's track record with hit content like Reborn Rich, combined with the synergy of top-tier actors such as Lee and Jung, was expected to become a strong growth engine. The two actors' names and influence were presented as the core of the company's growth story.

Since then, both men's positions have shifted. On September 1, Lee sold 408,345 of his Artist Studio shares to Studio Jidam for about 5.5 billion won. His personal stake fell from 5.04% to 0.95%, and a later rights offering diluted it further to 0.83%.

Jung resigned as an inside director of Artist Company, a separate listed firm, on the 2nd. His term ran until March 28, 2027, so he left roughly six months early. He still holds a 10.99% stake in Artist Company and remains an actor under its management.

Ownership is changing too

The shareholder base is moving as well. MBN took part in a 4 billion won rights offering last month, and Artist Company is in the process of selling part of its Artist Studio holdings to Studio Jidam.

The amendment going to vote does more than swap the name. It would add exhibition, convention and event-planning businesses and an art content business, and revise the rules on new share issuance to make it easier to bring in outside investors. If shareholders approve it on the 26th, the Artist Studio name will have lasted about two years.