Korean Actress Jun Ji-hyun's Husband's 35 Billion KRW Investment in Wemade Faces Huge Loss

On June 7th, Alpha Asset Management, a private fund operator, holds Wemade stock worth 35 billion KRW. Currently, this stock is facing increasing losses. Due to the virtual currency Wemix, which once led to the rise in Wemade's stock price, being delisted from the trading platform again, the market's hope for a stock price rebound is fading. The CEO of the company is Choi Jun-hee, who is the husband of South Korean actress Jun Ji-hyun. After being delisted for the second time, Wemix has officially been delisted from domestic cryptocurrency exchanges in South Korea. Previously, Wemade had applied for a ban on four exchanges belonging to the Digital Asset Exchange Alliance (DAXA), but the 50th Civil Affairs Division of the Seoul Central District Court (Chief Judge Kim Sang-hoon) rejected it on May 30th. Wemix is a virtual currency issued by the South Korean game company Wemade through its subsidiary, aiming to build a blockchain game ecosystem. On the 2nd of this month, DAXA decided to delist Wemix again because Wemix was hacked on February 28th, losing 9 billion KRW worth of tokens, and this news was made public on the 4th of this month. The coin had previously been listed as a cautionary trading item. The decision to delist Wemix for the second time has intensified Alpha Asset Management's concerns. With Wemade's deteriorating business situation, the possibility of Wemix rising to boost Wemade's stock price has completely disappeared. In the past, whenever the price of Wemix rose or positive news emerged, Wemade's stock price would also rise. In October 2023 and January 2024, Alpha Asset Management purchased Wemade stock worth 15 billion KRW and 20 billion KRW respectively at prices of 34,894 KRW per share and 63,887 KRW per share. As of June 2nd, Wemade's closing price was only 25,000 KRW, estimating a paper loss of up to 15.8 billion KRW (approximately $11.66 million).