Actors Bae Yong-joon and Ju Ji-hoon. [Herald POP (now Herald Muse) · Netflix]
Actors Bae Yong-joon and Ju Ji-hoon. [Herald POP (now Herald Muse) · Netflix]

Shares of Blitzway Entertainment, in which actors Bae Yong-joon and Ju Ji-hoon are major shareholders, have plunged more than 70 percent in roughly seven months.

Blitzway Entertainment closed at 2,525 won on Kosdaq on Monday, according to securities industry data. That marks a drop of about 75.4 percent from the closing price of 10,250 won on March 13, when the share price had surged on news that Bae had bought additional shares.

Bae holds 860,375 shares in Blitzway Entertainment, representing an 8.63 percent stake. Based on Monday's closing price, the value of his holdings stands at approximately 2.214 billion won.

That compares with an estimated value of about 7.33 billion won on March 13, meaning his stake has lost more than 5.1 billion won in roughly seven months.

Ju Ji-hoon, an actor affiliated with Blitzway Entertainment and also a major shareholder, has seen a similarly sharp decline. Ju, whose legal name is Ju Young-hoon, holds 571,418 shares, or a 5.73 percent stake.

Based on Monday's closing price, the value of Ju's holdings is approximately 1.44 billion won, down about 3.43 billion won from roughly 4.87 billion won on March 13.

However, these figures reflect changes in market value rather than realized losses. Actual gains or losses depend on the price at which the shares were acquired, any additional purchases, and whether any shares have been sold.

Earlier, Bae spent about 392 million won to buy approximately 420,000 additional shares in Blitzway Entertainment on March 5 and 6. After the news became public, the share price hit the daily upper limit on two consecutive days — March 11 and 12 — and topped out at its peak on March 13. The stock then reversed course and has been declining since.

Blitzway posted operating profit of 3.06 billion won in 2021 but has been mired in losses for four consecutive years since — recording deficits of 3.64 billion won in 2022, 8.09 billion won in 2023, 6.62 billion won in 2024, and 9.05 billion won in 2025. Improving earnings is seen as the key to any share price recovery.

Against that backdrop, Blitzway is moving to secure new growth engines through business diversification.

In May, Blitzway's subsidiary Clap secured about 5.2 billion won in investment from Japan's Bandai, after which Blitzway renamed the unit Blitzway Music and pushed into the music business. Whether the investment translates into improved earnings and a return to profitability will be the key factor in any share price rebound.


betterj@heraldcorp.com