Cha Eun-woo’s agency Fantagio has pushed back the payment date for its 16.93 billion won (approximately $12 million) rights offering for a third time, moving it from October 16 to December 10 and casting fresh doubt over the production of Lee Young-ae’s long-awaited historical drama “Uinyeo Dae Jang Geum” (working title).
According to Sports Seoul’s October 21 report, the public subscription offering was originally scheduled for August 11, then shifted to September 4 and October 16 before the latest delay to December 10 — putting fundraising nearly four months behind schedule. Fantagio launched the offering in July to raise operating capital for albums, concerts and drama production, telling shareholders at the time that the faster public subscription method was chosen because production funds were urgently needed.
The company also disclosed a change in how it will spend the 15.14 billion won it previously raised for drama production. Of the 9.816 billion won that remains unspent, 5.2 billion won will now cover the remaining production costs of the drama “Kim Bujang” and 4.616 billion won will go to “Mom’s Gone Crazy,” instead of the originally planned 24-episode historical drama “Drama J” (working title). Fantagio attributed the change to “delayed production and programming negotiations with broadcasters and channel operators.”
Lee Young-ae’s casting and writer contract for “Uinyeo Dae Jang Geum” were announced in January 2024 with an early 2025 broadcast target, but no confirmed production or broadcast schedule has emerged since. It remains unclear whether “Drama J” and “Uinyeo Dae Jang Geum” are the same project.
The financial strain follows a tax controversy: Fantagio was assessed about 8.2 billion won in additional taxes over a management contract with a company founded by Cha Eun-woo’s mother, paid 3.2 billion won upfront and the remaining 5 billion won on July 31, and is now appealing through the tax tribunal process. Korean outlets also reported that Cha Eun-woo personally paid around 13 billion won.
Whether Fantagio can secure the funds needed for its content slate — and when Lee Young-ae’s historical drama will finally move forward — is now the industry’s open question.
