Choi Joon Hyuk's investments in Wemade face a significant setback as WEMIX plummets freely

DeFiDoctor · 2026-01-12T19:37:33+00:00

Alpha Asset Management, under the leadership of Choi Joon Hyuk, faces serious problems following the fall of Wemade's WEMIX token, resulting in significant losses and a bleak outlook for the company. Previous investments have not yielded results, and recovery seems limited.

DeFiDoctor

2026-01-12 19:37:33

Abstract generation in progress

The situation of Alpha Asset Management, a private equity firm whose CEO is Choi Joon Hyuk (husband of South Korean actress Jun Ji Hyun), has become critical after a series of unfavorable movements in the cryptocurrency market. The company, which holds equity positions in Wemade worth approximately 35 billion won, now faces a bleak outlook.

WEMIX token collapse triggers cascading effects

The trigger for the financial problems has been the rapid deterioration of the WEMIX token. The digital currency, issued by Wemade to power its blockchain-based gaming ecosystem, has experienced massive pressure in recent months. Prominent South Korean trading platforms such as Upbit and Bithumb have delisted the asset, effectively eliminating any chance of quick recovery for its holders.

Currently, WEMIX trades at $0.36, reflecting a devastating 58.81% drop over the past twelve months. This collapse has directly impacted Wemade’s stock price prospects.

Progressive investment that has not yielded results

Alpha Asset Management made a series of equity acquisitions in Wemade in hopes of capitalizing on the growth of the blockchain gaming sector. In October 2023, the company invested 15 billion won, followed by an additional investment of 20 billion won in January 2024. These moves accumulated significant exposure to the project.

However, the outlook quickly reversed. In the first quarter of the year, Wemade reported an operating loss of 11.3 billion won, a clear indicator of fundamental difficulties. The company’s market value has contracted by more than 25% since the beginning of the year.

Limited prospects for recovery

Market analysts point out that with the exclusion of the WEMIX token from major South Korean trading channels, the catalysts for a rebound in Wemade’s stock price have been significantly reduced. The investments made by Choi Joon Hyuk through Alpha Asset Management remain trapped in an asset whose recovery prospects look increasingly remote.

WEMIX-4.23%

View Original

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.