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The market capitalization of related stocks such as YG Entertainment and SBS was found to decline by more than 70 billion won as the history distortion and pro-Chinese controversy over the drama ‘Chhosun Gumasa’ spread.
Amid this, as anti-Chinese public opinion spreads more widely in Korea, there is a possibility that the risks of items such as China-related entertainment will rise further.
According to Korea Exchange on the 28th, the market capitalization of YG Entertainment, the parent company of YG Studioplex, a Joseon Gumas production company, and SBS, a broadcasting company, amounted to 1.2 trillion won as of the 26th. .
This is a decrease of KRW 71.6 billion from the standard closing price (1.314 trillion won) on the 22nd, when the first episode of Joseon Gumasa aired.
During this period, YG Entertainment fell 5.63% and SBS fell 5.24%, respectively, and YG PLUS, a subsidiary of YG Entertainment, also fell 2.64%, resulting in a decrease of 10.1 billion. won in market capitalization.
On the other hand, during the same period, Big Hit Entertainment, a leader in entertainment, was up 5.22% and JYP Entertainment was up 0.85%, respectively.
Since the first episode of Joseon Gumasa aired, history distortion and pro-Chinese controversy have intensely increased, mainly online.
While shocked advertisers and local governments withdrew their support for the production, SBS and YG Studioplex abolished production and broadcasting of Joseon Gumasa on the 26th.
As Joseon Gumasa, who has already completed 80% of filming, is suppressed, it seems inevitable that a large part of the 32 billion won production cost is unavoidable.
In this regard, Sejong Hong, a researcher at Shinhan Financial Investment, estimated that “SBS’s loss is up to 7 billion won, even if the remaining 14 episodes are not played.”
The problem is that the abolition of Joseon Gumasa seems closer to the ‘beginning’ than to the ‘end’.
This is because the possibility of a second case has increased as a precedent has been set for angry netizens to eliminate the drama entirely by boycotting advertisers.
First of all, the JTBC drama ‘Seolganghwa’, which is scheduled to air in June, with Jisoo of the girl group Black Pink, who is the star of YG Entertainment, is also embroiled in controversies, such as dismissing the story of democracy. movement, and praising espionage and the Department of Homeland Security Planning (A Grants Department), heralds a boycott.
Additionally, the aftermath has already started to appear, as a furniture company canceled Seolganghwa’s sponsorship as Seolganghwa’s production company JTBC Studio received a 100 billion won investment from Tencent, China, and anti-public opinion. -China linking to the Dramatic content appeared online.
In the future, all China-related business methods, such as investment attraction and indirect advertising (PPL), have become a “minefield” exposed to the potential risk of anti-Chinese public opinion.
However, there are also observations that the immediate impact on the share price or earnings of related shares will not be significant.
Hyun-yong Kim, a researcher at Hyundai Motor Securities, said: “Currently, expectations of the launch of Han-Han-Ryeong (Korean wave restraint) are largely not reflected in the share prices of related items such as entertainment. will have to watch. “
/ yunhap news
