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[Alpha Biz=(Chicago) Reporter Paul Lee] Studio Dragon, which is in charge of producing the drama at CJ, has also been involved in embezzlement, making the atmosphere more stirring, with its co-chairman resigning. Studio Dragon is a subsidiary of ENM, established in 2016.
It has been confirmed that Kim Young-kyu, co-chairman of Studio Dragon, has recently expressed his position to step down to take moral responsibility for the embezzlement case that broke out in the company.
"The group's audit team caught the misconduct of a producer working at Studio Dragon after receiving an internal report two months ago," a Studio Dragon official said. "The producer was found to have received bribes and embezzled money from the company, and CEO Kim Young-kyu took moral responsibility and expressed his intention to resign." For producers who are involved in embezzlement, the government plans to consider civil and criminal measures in the future. This means that the amount of embezzlement is large.
Unlike other categories, Studio Dragon's stock price has gone downhill recently even after producing "The Glory" starring Song Hye-kyo, one of the drama's biggest hits this year. On the 26th, Studio Dragon's stock price fell more than 30% compared to the stock price at the end of last year, which soared to the late 80,000 won range, as it closed at 57,700 won, down 0.52% from the previous day.
Studio Dragon's sales reached 697.9 billion won last year, up 43.3% from 2021. Operating profit rose 24% from 52.6 billion won to 65.2 billion won. Sales in the first quarter of this year jumped 74.3% to 211.1 billion won from the same period last year (121.1 billion won).
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
