[Special Stock] CJ ENM Surges Over 4% After Academy Nomination in 4 Years

First Investment and Distribution Film Nominated in 4 Years Since Parasite in 2020
Three Consecutive Trading Days of Increase, Recovery to 70,000 Won Range
Meaningful Achievement Amidst Film and Drama Business Slump

CJ ENM is showing strength. This appears to be influenced by the news that the film "Past Lives," which it invested in and distributed, has been nominated for an Academy Award.

As of 2:44 PM on the 24th, CJ ENM is trading at 72,700 KRW, up 4.201% (2,800 KRW) compared to the previous session. The stock price, which threatened the 60,000 KRW level on the 19th, has been rising for three consecutive trading days since the 22nd.

On this day, the film "Past Lives," invested in and distributed by CJ ENM, was nominated in two categories?Best Picture and Best Original Screenplay?at the 96th Academy Awards. It is the debut work of Korean-Canadian director Celine Song. This is the first time an Asian female director has been jointly nominated for both Best Picture and Best Original Screenplay. For CJ ENM, this is the first time in four years since the 2020 film "Parasite" that a work has been nominated for an Academy Award. "Past Lives" has garnered global attention, winning 64 awards at various international film festivals to date.

When "Parasite" won four Academy Awards, CJ ENM was praised for "setting a historic milestone in the Korean film industry." However, the company has experienced sluggishness in its film and drama divisions since the COVID-19 pandemic. The operating loss in the film and drama sectors for 2023 is estimated at 129.6 billion KRW. With the recovery of the theater industry this year, whether CJ ENM can reduce the deficit or turn a profit in the film sector is considered one of the key points for its 2024 performance.

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