Key East Entertainment and JYP Reach An Agreement, Joint Company Terminated

It looks like any plans for “Dream High 3” will have to be postponed to a distant future. But, is that good news or bad news?

On August 25, a representative from an investment bank belatedly revealed that Holyim, the joint production enterprise between the two companies (JYP Entertainment and Key East Entertainment), has been terminated after the decision made from the stockholders meeting this past February.

The registration record for the incorporated company reveals that the capital enterprise is worth 100 million won (about 100 thousand USD) and the liquidation process finished on May 30 this year, which was registered the following day.

Founded in January 2009, the joint enterprise was originally named Dream High before changing to current name Holyim. The venture was the result of Bae Yong Joon and Park Jin Young’s joint investment in a drama collaboration project.

First project “Dream High” was aired in 2011 through KBS and became a hit. Kim Soo Hyun, miss A’s Suzy, IU and the rest of the cast received a lot of love. Bae Yong Joon made a special cameo in the first episode and Park Jin Young made his acting debut as one of the teachers at Dream High. The company produced the sequel drama “Dream High 2,” but with less success.

Some are wondering if the termination of Holyim will stop the production of “Dream High 3.” A JYP representative commented, “There are currently no plans for [Dream High] season 3.”