“Oh! I didn’t expect this,” President K invested ’20 billion’ after meeting the dog, but CJ ENM was taken aback.

[Capture from YouTube Kang Hyoung-wook’s BoodeumTV]

[Herald Economy=Reporter Go Jae-woo] “Is this the place with the 1-point rating?” (Comment from YouTube Kang Hyoung-wook’s BoodeumTV)

Controversy surrounding dog trainer Kang Hyoung-wook is increasing. Kang has been continuously facing disclosures related to him from former employees of Boodeum Company that he operates, leading CJ ENM to be in a difficult situation.

Earlier, CJ ENM invested ’20 billion won’ in Studio Episod, a multi-channel network, to enhance YouTube commerce capabilities. However, as Kang, the representative YouTuber of Studio Episod with about ‘2 million subscribers,’ became embroiled in controversy, CJ ENM is expected to face difficulty in achieving its investment goals.

[Capture from Studio Episod’s website]

According to CJ ENM’s business report on the 22nd, last year the company acquired convertible bonds worth 20 billion won issued by Studio Episod for the purpose of participating in management. Through this, CJ ENM is expected to collaborate with Studio Episod in content production and distribution.

Kang, who is affiliated with Studio Episod, has about 2.09 million subscribers (as of the 22nd). It even featured celebrities such as singers Jennie and Taeyeon, and actress Kim Hee-sun. Furthermore, it released products such as its own brand ‘Boodeum Chest Harness’ through Boodeum Shop related to contents.

[Capture from Boodeum Shop’s website]

The problem lies in the fact that the representative YouTuber affiliated with Studio Episod is Kang. With the controversy surrounding the representative YouTuber Kang escalating uncontrollably, not only is Studio Episod at risk, but CJ ENM’s investment goal of strengthening YouTube commerce capabilities may also become difficult to achieve.

Furthermore, there is a growing interest in whether CJ ENM will exercise the right to convert the debt securities, CB, into stocks after a certain period.

A CJ ENM official stated, “We invested to enhance the media commerce capabilities of Studio Episod company,” and added, “We plan to strengthen various new media content-based commerce businesses in the future, not only on YouTube.” He also stated, “We have no comments on whether we will exercise the CB rights.”

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