Special Report >>> Squid Game and its Impact on South Korea’s Entertainment Sector
Updated: Oct 27, 2021
Picture Credit: Jonas Augustin
Squid Game was a hit Netflix original series which created a massive impact on the entertainment industry all over the world. The show has created quite the buzz around the potential that the South Korean entertainment industry has, and investors are lining up to get a piece of the action.
South Korea is already well known in America and around the world for their technology companies such as Samsung who design and manufacture electronics and Hyundai who produce vehicles. However, with the recent success of the Korean show Squid Game, the entertainment sector is also developing a name for itself on the global stage.
“The stage has been set for ‘K-dramas’ and content to expand and reach an even wider audience” comments Lee Sang-Hun, a senior analyst at HI Investment and Securities Co. in Seoul. Many Korean entertainment companies have made outstanding profits due to the hype Squid Game has created around South Korea. FNC Entertainment, Showbox, Next Entertainment World and Dexter Studios which are South Korean entertainment companies have all reported share price gains above 60% since the show was released last month. Even local retail investors have invested more than ₩250 billion in stocks in the entertainment sector.
Picture Source: CNET website
However, it is important to highlight that other industries have also contributed to an overall elevation of South Korea’s soft power. Pop artist groups such as BTS have contributed enormously to stir curiosity in Korean culture and gain international fans as well. “A lot of things helped make Squid Game a success … We can’t ignore the impact of groups like BTS and BlackPink – pop artists who have played a role in rousing curiosity in Korean culture” comments Shin Su-Yeon, an analyst at Shinyoung Securities Co.
Korea’s entertainment industry is on fire, and it is only a matter of time that it becomes a dominant force in today’s global entertainment sector.
October 26th 2021 | 2.45 PM