Korean star Jun Ji-hyun's husband Choi Joon-hyuk faces huge losses due to his investment in Wemade, a listed company involved in blockchain gaming business

Planet Daily News: According to Korean media Chosun, Alpha Asset Management, led by CEO Choi Jun-hyuk, is facing significant book losses due to holding Wemade stocks worth 35 billion Korean won. The company purchased shares at 34,894 Korean won and 63,887 Korean won per share in October 2023 and January 2024, respectively. The current stock price is 25,000 Korean won, with estimated losses reaching 15.8 billion Korean won. Recently, the virtual currency WEMIX was delisted again by the Korean Exchange Alliance DAXA due to a security incident, causing Wemade's stock price rebound expectations to fall through. Previously, WEMIX's price surge had often driven Wemade's stock price up. Wemade recorded an operating loss of 11.3 billion Korean won in the first quarter, which expanded year-on-year. Analysts believe the company's weak blockchain business performance and high marketing costs for the game "Legend of Ymir" are the main reasons. Wemade plans to hold an emergency online briefing at 6:30 PM today, with WEMIX Foundation representative Kim Seok-hwan attending to discuss communication with global exchanges and potential legal actions.