April 25, 2024
Finance
CJ E&M shares rise in solo performance
[THE INVESTOR] Shares of CJ E&M have been on the rise as a solo flight in the stock market amid China’s move to restrict imports of South Korea’s cultural contents, market data showed on Jan. 20.
The company‘s stock, listed in the secondary market KOSDAQ, closed at 87,200 won (US$74) on Jan. 19, up 10.8 percent from the previous day. It is the highest since Feb. 4 last year and marks a 62.08 percent jump in just seven weeks since the most recent nadir on Dec. 5 last year. The market cap has recouped the 3 trillion-won range after 10 months.
The firm’s latest hit drama “Guardian” and recently released mobile game “Lineage II: Revolution” are given big credits. The drama, aired on the company’s cable channel tvN, has been dominating the TV popularity chart, while the role playing game from Netmarble chalked up 206 billion won in sales in the first month of its release, the biggest on record for a local gaming company. CJ E&M is the second-largest shareholder of Netmarble with 27 percent.
Other industry competitors have been boxed in after China reacted in fury against Seoul’s decision in July last year to host the US missile defense system THAAD. Retaliations included activities in China by popular Korean entertainers, controlling cultural content imports and reining in travel programs to South Korea.
(theinvestor@heraldcorp.com)
The company‘s stock, listed in the secondary market KOSDAQ, closed at 87,200 won (US$74) on Jan. 19, up 10.8 percent from the previous day. It is the highest since Feb. 4 last year and marks a 62.08 percent jump in just seven weeks since the most recent nadir on Dec. 5 last year. The market cap has recouped the 3 trillion-won range after 10 months.
The firm’s latest hit drama “Guardian” and recently released mobile game “Lineage II: Revolution” are given big credits. The drama, aired on the company’s cable channel tvN, has been dominating the TV popularity chart, while the role playing game from Netmarble chalked up 206 billion won in sales in the first month of its release, the biggest on record for a local gaming company. CJ E&M is the second-largest shareholder of Netmarble with 27 percent.
Other industry competitors have been boxed in after China reacted in fury against Seoul’s decision in July last year to host the US missile defense system THAAD. Retaliations included activities in China by popular Korean entertainers, controlling cultural content imports and reining in travel programs to South Korea.
(theinvestor@heraldcorp.com)
