K-Drama Hits Keep Coming as ‘Hellbound’ Series Lifts Jcontentree
K-drama stocks are on a roll with the company behind the hit Netflix series “Hellbound” surging after the show’s debut.
(Bloomberg) -- South Korea’s K-drama stocks are on a roll with the company behind the hit Netflix series “Hellbound” surging after the show’s debut.
Jcontentree Corp. jumped as much as 23%, before paring gains, after the six-episode fantasy and action series ranked No. 2 on a list of top television shows on Netflix following its Nov. 19 release, according to FlixPatrol. Jcontentree is the parent company of Climax Studio, which produced the drama. “Squid Game” and “Hometown Cha-Cha-Cha” were also on the list.
“It’s completely driven buy a ‘don’t-ask-just-buy’ mentality,” said Seo Sang-Young, a market strategist at Mirae Asset Securities. “The problem with these stocks is that the gains don’t usually last.”
Iokcompany Co., which owns the agency of one of the actresses in the show, also soared, climbing 18%. Studio Santa Claus Entertainment Co. rallied as much as 19% before trimming gains.
Korea is best known to consumers in the U.S. and Europe for its Samsung smartphones and Hyundai cars, but closer to home in Asia it is also a force in cultural exports like film and music. The hope now in Seoul is that big-hit television shows will take the industry global.
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