[Asia Economy Reporter Minji Lee] Kidari Studio is on a downward trend. This is interpreted as a result of the announcement that no decision has been made regarding the large-scale investment attraction from ByteDance, a Chinese IT company operating the video platform TikTok.
On the 7th, Kidari Studio is trading at 17,350 KRW, down 3.6% from the previous trading day on the KOSDAQ market. Following news that ByteDance would invest up to 50 billion KRW, Kidari Studio's stock price rose to a 52-week high of 21,800 KRW during the previous day's session but is currently continuing its decline.
Kidari Studio stated through a disclosure, "We are reviewing various measures to strengthen business competitiveness, but no decisions have been made at this time. We will re-disclose when specific details are confirmed or within one month."
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