Nov 24, 2022 08:25 AM

BUSINESS

Korea Media Stocks Surge as China Resumes Online Streaming

The resumption may help Korean cultural content producers return to the largest consumer market in the region

The resumption may help Korean cultural content producers return to the largest consumer market in the region

(Bloomberg) — Shares of South Korean movie producers and distributors rallied as China resumed the streaming of a Korean movie following a six-year hiatus, spurring hopes of more cultural exports.

Film distributor and producer Showbox Corp. jumped 15% Wednesday, while KidariStudio Inc., a producer of online comics and other content, surged by the 30% daily limit. Other media stocks including Studio Dragon Corp. and CJ ENM Co. also rallied.

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