[Alpha Biz=(Chicago) Reporter Paul Lee] Studio Dragon shares plunged nearly 6% on the 27th. Analysts say investor sentiment is worsening due to overlapping unfavorable factors such as in-house embezzlement, the resulting news of the CEO's resignation, and CJ Group's paid-in capital increase.

Studio Dragon closed the deal at 54,300 won, down 5.89%.

The CJ Group audit team uncovered the misconduct of producer A, who worked for Studio Dragon two months ago. A is said to have unfairly received bribes and personally pocketed company money in the process of pushing for the project. On the previous day, Studio Dragon made an inquiry and said, "CEO Kim Young-kyu resigned for personal reasons."

The worsening investor sentiment for CJ Group shares as a whole due to the recent CJ CGV paid-in capital increase also affected stock prices.

 

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