Lee Jung-jae. Photo: AP
Shares linked to South Korean actor Lee Jung-jae are soaring after the announcement that hit Netflix K-drama Squid Game 2, in which the star will reprise his leading role, has been nominated for Best Television Series in the drama category at the Golden Globes, ahead of its premiere on Dec 26.
While it is not unusual for the Globes to nominate films that have not yet seen a wide release, the practice is less common for series that have yet to air. The awards will take place on Jan 5, 2025.
The rest of the nominees in the category – The Day Of The Jackal (2024), The Diplomat (2023 to present), Mr. & Mrs. Smith (2024 to present), Shogun (2024 to present) and Slow Horses (2022 to present) – have all premiered and are available to stream on various platforms.
The highly anticipated sequel to Squid Game comes three years after the first season of the survival thriller became Netflix’s most-watched series.
As at Dec 11, shares of Artist United – Lee’s agency, where he is the largest shareholder with a 23.49% stake – closed at 13,320 won a share, marking a more than 29% increase from the previous day.
Meanwhile, shares of Artist Studio, the South Korean drama production company behind titles like Maestra (2023) and Reborn Rich (2022), rose by 29.95% to close at 15,490 won per share. Lee recently acquired the management rights of Artist Studio.
Share prices of these two companies had originally dropped following news on Dec 6 that financial authorities are investigating them for allegations of insider trading and stock price manipulation.
Lee Byung-hun. Photo: Reuters
In December 2023, Lee and his long-time friend and business partner, actor Jung Woo-sung, became the largest shareholders of Wider Planet, now renamed Artist United. They acquired 45% and 9% of the shares in the company respectively.
The financial investigations followed reports suggesting that certain groups had prior knowledge of the pair’s acquisition of the company.
After buying the company’s stocks at a low price, these groups allegedly manipulated the market by promoting the stocks as “Han Dong-hoon theme stocks” to make a profit, referencing South Korea’s People Power Party leader Han Dong-hoon. Lee and Han were high school classmates.
These stocks reportedly saw dramatic increases in value after South Korean President Yoon Suk Yeol’s unexpected declaration of martial law on Dec 3.
Artist United issued a statement on Dec 6 clarifying that while Wider Planet (now Artist United) had been previously investigated by financial authorities, the company and Lee are not currently subjects of any investigation. It added that Lee was not involved in any illegal activities, such as insider trading or information leaks.
President Yoon’s martial law declaration has sparked protests and widespread discontent in South Korea, but the stars of Squid Game 2 are confident their country will weather the turmoil.
On Dec 9, at a premiere in Seoul for Squid Game 2, actor Lee Byung-hun, who plays the shady Front Man character in the series, said: “I believe that we will definitely overcome this situation.”
Wi Ha-jun. Photo: AP
Fellow actor Wi Ha-jun, who returns to the show as police officer Hwang Jun-ho, also expressed regret over the situation.
“I really hope that the country will return to normal as soon as possible, so that all of our people have a happy holiday season and a happy Christmas,” he said.
The series’ director and writer Hwang Dong-hyuk also expressed frustration at the situation. He said: “It is extremely unfortunate and infuriating... that the entire nation cannot sleep due to such absurd circumstances.” – Agencies
