On July 1, Galaxy Corporation announced: "We have signed an exclusive contract with actor Ryu Jun Yeol. We will actively provide comprehensive support to make his unique acting ability and artistic ability shine even brighter on the global stage.
Currently, Galaxy Corporation owns a lineup of artists including actor Song Kang Ho and singers G-Dragon (Big Bang), Taemin (SHINee) and Kim Jong Kook.
Ryu Jun Yeol's joining is expected to further strengthen the global artist team as well as enhance the company's IP (Intellectual Property) competitiveness.
Ryu Jun Yeol signed an exclusive contract with UAA in June last year. But after only 1 year, the actor decided to leave.
Rumors of Ryu Jun Yeol negotiating with Galaxy Corporation appeared on June 29. However, Galaxy Corporation kept silent at that time.
A media unit said that senior leaders of the company did not answer phone calls to verify from reporters, nor did they reply to messages.
However, just 3 days later, the company changed its attitude. They issued a press release confirming the contract with Ryu Jun Yeol, along with a promotional introduction about themselves as a "technology - entertainment company, combined with AI" and a request line: "Please post the news immediately after the release of the press release".
The media asks, what makes this company so eager?
Previously, sources in the industry analyzed that Galaxy Corporation is actively recruiting A-list artists to serve its initial public offering (IPO) strategy.
At the same time as there was information about contract negotiations with Ryu Jun Yeol, Galaxy Corporation is said to have offered actor Yoo Ah In to sign an exclusive contract worth 5 billion won.
This has not been confirmed, but people in the industry believe that this number is well-founded.
In 2023, Galaxy Corporation attracted attention with the first exclusive contract signed with G-Dragon with a total value of 20 billion won, including about 10 billion won in cash and 10 billion won in stock options.
In March this year, male singer Taemin also joined the company with a contract said to be worth 7 billion won, including stock options like G-Dragon.
According to the entertainment industry, Galaxy Corporation has signed contracts or is pursuing many famous artists with valuable agreements. Therefore, it is likely that Ryu Jun Yeol's contract, or the contract being discussed with Yoo Ah In, is valued at billions of won, which is consistent with the situation.
Most of these contracts are built around stock options, aiming to link the interests of artists with the goal of increasing business value in the long term before listing.
Observers believe that gathering many leading artists can help Galaxy Corporation significantly strengthen its position in the market, especially if key artists continue to stick with the company after listing.
In recent years, the contract fees of Korean stars have continuously set new records. Fantagio company once caused a stir when it was said to have paid Kim Seon Ho a contract fee of about 2-3 billion won, not including other benefits.
