Friday, September 21, 2007

[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.


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.

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