Yonsama to Become Largest Shareholder of Kosdaq-Listed Firm
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By Yoon Ja-young
Staff Reporter
Popular Korean actor Bae Yong-joon, affectionately called Yonsama by his Japanese fans, will become the biggest shareholder of a Kosdaq listed firm and start cultural contents business to take on Asian market, through joint investment with Softbank.
Bae and Softbank Korea announced Monday that they will invest 13 billion won in Autowin Tech, a system integration company listed on the Kosdaq market. Bae will invest 9 billion won ($9.31 million), Softbank Korea 3 billion won, and Interactive Media Mix (IMX), a contents business firm, will invest 1 billion won.
They will take over management control of Autowin Tech by investing 13 billion won in the rights issue scheduled on March 8. The name will be changed to Key East, with Bae becoming the biggest shareholder with a 37.5 percent stake.
They plan to develop Key East as a top cultural contents and media corporation in Asia.
"BOF, the entertainment management company of Bae, will concentrate on picking new stars and producing contents, IMX will distribute contents and Softbank will focus on serving them to each market", they said at the press conference held yesterday.
Bae is a main shareholder of BOF, which recorded 44 billion won sales last year. Bae is known to have earned 20 billion won.
Bae said active cultural exchanges with Asian nations are needed to back up the competitiveness of Korea's cultural contents industry. "We will cooperate with Softbank and IMX to develop Asian contents market", he said.
"The investment is completely different from recent speculations by entertainment firms", said Bae Sung-woong, CEO of BOF. Recently, a series of entertainment firms' speculation in Kosdaq was severely protested by investors who lost money. They often hiked the share price with the news of entertainer's investment, and sold shares after the price soared. However, the Autowin Tech stocks will not be traded until the investment is complete. "To wipe out misunderstanding, most of the Key East shares will not be sold for two years after the new stocks are issued", he said.
The trading of shares in Autowin Tech is currently suspended for capital erosion.
Staff Reporter
Popular Korean actor Bae Yong-joon, affectionately called Yonsama by his Japanese fans, will become the biggest shareholder of a Kosdaq listed firm and start cultural contents business to take on Asian market, through joint investment with Softbank.
Bae and Softbank Korea announced Monday that they will invest 13 billion won in Autowin Tech, a system integration company listed on the Kosdaq market. Bae will invest 9 billion won ($9.31 million), Softbank Korea 3 billion won, and Interactive Media Mix (IMX), a contents business firm, will invest 1 billion won.
They will take over management control of Autowin Tech by investing 13 billion won in the rights issue scheduled on March 8. The name will be changed to Key East, with Bae becoming the biggest shareholder with a 37.5 percent stake.
They plan to develop Key East as a top cultural contents and media corporation in Asia.
"BOF, the entertainment management company of Bae, will concentrate on picking new stars and producing contents, IMX will distribute contents and Softbank will focus on serving them to each market", they said at the press conference held yesterday.
Bae is a main shareholder of BOF, which recorded 44 billion won sales last year. Bae is known to have earned 20 billion won.
Bae said active cultural exchanges with Asian nations are needed to back up the competitiveness of Korea's cultural contents industry. "We will cooperate with Softbank and IMX to develop Asian contents market", he said.
"The investment is completely different from recent speculations by entertainment firms", said Bae Sung-woong, CEO of BOF. Recently, a series of entertainment firms' speculation in Kosdaq was severely protested by investors who lost money. They often hiked the share price with the news of entertainer's investment, and sold shares after the price soared. However, the Autowin Tech stocks will not be traded until the investment is complete. "To wipe out misunderstanding, most of the Key East shares will not be sold for two years after the new stocks are issued", he said.
The trading of shares in Autowin Tech is currently suspended for capital erosion.
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