His father is a businessman too.
2 hours ago
Actor Jang Dong Joo, who abruptly walked away from acting while still carrying hundreds of millions of won in debt, has revealed his next major career move: becoming a businessman and preparing his company for an eventual IPO.
On September 21, Jang told Star News that Woosun Group, which he leads, is developing a mid- to long-term growth strategy with the goal of eventually pursuing an initial public offering. The move marks another dramatic transformation for Jang, who has gone from actor to livestream creator and now corporate executive in a matter of months.
“Based on the experience I’ve built in the content and entertainment industry through my acting career, as well as my experience in the academy and agency businesses, we’re expanding and developing our businesses in greater detail.”
He added that Woosun Group is expanding its portfolio beyond entertainment to include investment, arts and culture, and space-related businesses. According to Jang, Woosun Group currently operates several subsidiaries, including Woosun Investment, Woosun Stay, Calling Art Center, Gwangdae Acting Academy, and DWJ Seongsu.
The group plans to strengthen cooperation between its different businesses while simultaneously attracting outside investment. It is also reportedly considering mergers and acquisitions as a central part of its growth strategy.
Potential acquisitions will focus on businesses that could complement the group’s existing interests in content and entertainment, arts and culture, investment, real estate spaces, and accommodation. Jang reportedly isn’t entirely new to the corporate world either.
His father, Jang Myung Chun, has operated World General Construction for decades. Jang is said to have learned about corporate management and organizational operations from his father while maintaining an interest in investment and business expansion alongside his acting career. The career change comes only months after Jang shocked fans by announcing his retirement from acting in May.
Jang revealed in May that he was struggling under an enormous financial burden after allegedly becoming the victim of phone hacking and blackmail. According to Jang, the ordeal had once left him with approximately ₩4.00 billion KRW (about $2.91 million USD) in debt.
Jang subsequently reinvented himself as a livestream creator. His very first livestream reportedly generated approximately ₩20.0 million KRW (about $14,500 USD) in viewer donations.
Reports previously claimed that Jang was generating around ₩1.00 million KRW (about $727 USD) per day through TikTok Live.
Despite announcing his retirement, Jang has also left open the possibility that his acting career may not be over forever.
“After I’ve fulfilled all of my responsibilities, if I’m given the opportunity, I would also like to return as actor Jang Dong Joo.”