Lee Jung Jae’s entertainment company Artist Group has officially secured a 18 billion KRW (approx. 13 million USD) investment from MBN and the Maekyung Media Group, fueling speculation that it may emerge as the next “Studio Dragon” in Korea’s content production landscape.

On April 21st, Artist Group and Maekyung Media Group announced via regulatory filings that the full investment amount had been successfully deposited, solidifying their strategic partnership. The two companies previously revealed plans to collaborate in targeting the global K-content market.

With this investment, Artist Group now has access to stable production funding and will work closely with MBN to build an “all-in-one system” spanning production, distribution, and broadcasting. This synergy between a full-service entertainment agency and a major media platform is expected to lay the groundwork for the rise of “MBN Studio,” a potential powerhouse in Korean content, akin to Studio Dragon.

The collaboration’s first major project is the upcoming drama First Lady, set to premiere on MBN in late 2025. The drama, penned by Dream High 2 writer Kim Hyung Wan and starring Eugene, Ji Hyun Woo, and Lee Min Young, explores the explosive premise of a president asking his wife for a divorce just as she is poised to become the First Lady.

With plans to develop bold and creative content, Artist Group expressed its ambitions: “Receiving this 18 billion KRW investment from MBN and the Maekyung Media Group gives us a powerful foundation to enhance our content capabilities. Beginning with ‘First Lady,’ we aim to set new trends in the K-content market.”

As MBN Studio ramps up its efforts to produce globally competitive dramas, all eyes are on whether it can truly disrupt the industry and join the ranks of Korea’s elite content creators.

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