Actor Lee Jung Jae has parted ways with C-JeS Entertainment, and is rumored to be setting up his own label with his close friend and fellow actor Jung Woo Sung.

On May 2, C-Jes Entertainment stated, "The contract between Lee Jung Jae and C-Jes has been terminated." As a result, Lee Jung Jae is currently on the market as a free agent, making everyone curious about his next move in the industry.

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In the past, rumors surfaced about Lee Jung Jae and Jung Woo Sung's collaboration for a new entertainment company, and those rumors have returned to the spotlight following Lee Jung Jae's leave from C-JeS. 

If the rumors are true, Lee Jung Jae and Jung Woo Sung are bound to make two very hunky CEOs!