K-Pop Names Are Biggest Bets for a $2.5 Billion Korean Fund
- VIP began buying Korean media stocks in 2020 before Squid Game
- ‘Cult-like global fandom’ supports shares, VIP’s CEO says
This article is for subscribers only.
VIP Research & Management got into K-pop and drama-related shares even before “Squid Game” sparked a global boom in South Korean entertainment, and it remains bullish on the sector after those bets paid off.
SM Entertainment Co. and Seoul Broadcasting System are among the top bets for the $2.5 billion Korean asset management firm that started buying shares of K-pop agencies and media firms including JYP Entertainment Corp. from 2020, and it still holds them. It sold all of its stock in ContentreeJoongAng Corp. in late 2021 after the production company’s Netflix series “D.P.” and “Hellbound” became the latest K-drama hits--the share jumped 44% last year, the most in six years.