Kim Dong-rae, CEO of Raemongrae, refutes Lee Jeong-jae's lawsuit, calling it "deceptive misappropriation of management rights"

2024-06-11 08:11:03

Kim Dong-rae, CEO of Raemongrae, claimed in a statement on the 10th that Artists United is "trying to steal management rights through deceptive methods," such as attempting to acquire a listed company with Raemongraein funds, contrary to the investment discussions.

CEO Kim said that Artists United discussed participating in Raemongraein's management before investing, but after the acquisition, they forced him to engage in activities outside of his main business, such as acquiring a listed company.

CEO Kim criticized this, saying, “It is an intention to use Raemongraein’s cash assets as a shell to acquire other companies.”

After the acquisition of Artists United, expectations were high for Laemongraein's overseas expansion and growth potential, but concerns are also being raised about the company's future prospects due to the ongoing management dispute.

 

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