Booyoung Group Chairman Lee Joong-geun Acquires Monthly Literary Magazine 'Munhak Sasang'

"Reviving a Traditional Literary Magazine to Support Writers' Creative Activities"

Photo of Lee Jung-geun, Chairman of Booyoung Group. [Photo by Booyoung Group]

Lee Joong-geun, chairman of Booyoung Group, has acquired the 52-year-old monthly literary magazine "Munhak Sasang," which was on the verge of being discontinued.

According to Booyoung Group on the 31st, Chairman Lee purchased Munhak Sasang through "Ujeong Bookstore," which he established with his private funds. Ujeong Bookstore signed a transfer contract with Munhak Sasang and received the publishing rights.

Ujeong Bookstore will resume Munhak Sasang as the "2nd relaunch issue" this coming October. Munhak Sasang has been on hiatus since May due to financial difficulties.

Ko Seung-cheol, former head of the Dong-A Ilbo Publishing Department, has been appointed as the new president of Munhak Sasang. President Ko said, "We aim for a renaissance of Munhak Sasang based on reader-centered principles and respect for writers," adding, "Although literature is in a decline, we will secure potential readers and develop further."

The acquisition of Munhak Sasang is part of Chairman Lee's "Mecenat" activities supporting the publication of pure literary magazines. Chairman Lee stated, "To become a truly advanced country, we must share both material wealth and mature spiritual values," and added, "Through the re-publication of Munhak Sasang, we will encourage the creative activities of literary artists, raise the cultural level of the people, and illuminate the path in the era of knowledge and information."

Munhak Sasang, launched in October 1972, is a literary magazine recognized for discovering fresh projects and talented writers, opening new horizons for Korean literature.