[The Chosun Ilbo, September 18 2007] Pop Idol Rain to Become Tech Mogul

Singer and actor Rain will be a major shareholder of a company listed on the Korea Securities Dealers Automated Quotation or KOSDAQ. SATEC, a wireless technology company, said in a statement Monday that the singer will participate in a company capital increase that was decided on Sept. 3.

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Following the investment, the singer will turn the company into an entertainment firm. Rain said that he will purchase more shares and take over the managerial rights as part of a plan to grow the company into a producer and distributor of Korean media content targeting the global market.