With a Korean idol concert setting alight a craze in Europe, the prices of domestic entertainment agencies’ stocks have risen.
In the KOSDAQ market, SM Entertainment, with singers such as Girls’ Generation, TVXQ and Super Junior, ended on the 13th with a 3.24% increase at 19,100 Won. As the agency’s Paris performance attracted 14,000 European Hallyu fans, many believe that this ‘second Hallyu Wave’ in Europe will continue to cause stock prices to rise.
JYP Entertainment, with singers such as 2PM, 2AM and the Wondergirls, ended the day with a 14.95% increase at 3,230 Won. YG Entertainment, with singers such as Big Bang and 2NE1, will soon be entering the KOSDAQ market, possibly meaning that an ‘idol triumvirate’ will emerge in the stock market.
The profitability and growth possibility of domestic entertainment agencies are currently being revised.
Daewoo Securities researcher Moon Ji Hyun stated, “Even before the Paris concert, K-pop’s popularity was recognized in Asia and in the US. It is currently expanding through social network services(SNS) such as Youtube and Facebook,” and “In the past, growth was limited in the domestic music industry because of its small size, but now with the possibility of income from the European market that was opened through the recent Paris performance, there is a positive chance of growth for the entertainment industry.“
According to the Korean Contents Security Agency, the biggest music industries of the world in 2009 belonged to Europe(33.9%), Norther America(27.1%) and Japan(21.7%).
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