[Featured Stocks] CJ ENM, Film Investment and Distribution Company Sweeping Cannes, Shows Early Strong Performance

[Asia Economy Reporter Ji Yeon-jin] Two films invested and distributed by CJ ENM received major awards at the Cannes Film Festival, leading to a strong start in the market on the 30th.

On the morning of the 30th, CJ ENM began trading on the KOSDAQ market at 117,000 KRW, up 6.36% compared to the previous trading day. The stock price slightly declined in the early session but recorded 113,600 KRW as of 9:20 AM, up 3.27% (3,600 KRW) from the previous day.

CJ ENM was responsible for the investment and distribution of two films at the Cannes Film Festival: Park Chan-wook's "Decision to Leave," which won the Best Director award, and "Broker," starring Song Kang-ho, which won the Best Actor award.

With social distancing fully lifted and theaters rapidly returning to normal, this award news suggests that CJ ENM can expect performance comparable to that before the COVID-19 pandemic in 2019. Previously, CJ ENM achieved a 63.8% increase in sales in the film sector compared to the previous year, thanks to the success of films like "Parasite" and "Extreme Job" in 2019.

The two Korean films awarded at this year’s Cannes Film Festival also set records at the film market. As of the 24th, "Decision to Leave" was pre-sold to 192 countries, approaching the record for the most overseas sales of a Korean film held by "Parasite" (205 countries). "Broker" sold distribution rights to 171 countries.

This content was produced with the assistance of AI translation services.