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After 1,200% Rally, Korea’s Star Tech Stocks Need Staying Power

  • Six of 10 best Korea performers are linked to metaverse or NFT
  • Health-care firms that were 2020 winners are among big losers

For equity investors in South Korea, this was the year the metaverse arrived.

Six of the nation’s 10 best-performing stocks in 2021 are linked to the virtual universe or non-fungible tokens, including Wemade Max Co., which has surged 1,500% as it seeks to be a blockchain game developer, and its top holder Wemade Co. Virtual effects creator Giantstep Inc. has soared over 1,200% since its March listing as day traders piled into metaverse-tied stocks and exchange-traded products.