SEOUL, September 16 (AJP) - K-pop stocks are on a roll, humming along to the chart-topping "Up, up, up" tune of "Golden" from Netflix's animated blockbuster "KPop Demon Hunters."
The four household K-pop agencies have been riding on the Sony film's surprise success and its soundtrack. Shares of YG Entertainment have more than tripled from 32,300 won ($23.38) a year ago to 97,600 won this month.
Those of SM Entertainment soared from 58,100 won to 141,600 won (+144 percent), HYBE advanced from 164,000 won to 286,500 won (+75 percent), and JYP Entertainment increased from 45,200 won to 76,100 won (+68 percent).
The unexpected blowout of K-pop Demon Hunters acted as a game changer.
Against June 16, just before the film was released on June 20, shares of YG gained 12 percent from 87,200 won to 97,600 won (+11.9 percent). The label is associated with Teddy, the longtime YG producer and CEO of the Black Label that joined the creation of K-pop Demon Hunters OST. Shares of SM added a modest 4.5 percent while those of JYP remained unchanged. Shares of HYBE lost 4.5 percent during the same period.
"K-pop Demon Hunters is more than a box-off hit," said Meritz Securities media analyst Kim Min-young. "The film and OST are acting as an amplifier in the spread of Korean content."
Underscoring the fad over K-pop, assets under management for the ACE Kpop Focus ETF topped 200 billion won ($150 million), nearly seven times greater from 30.2 billion at the end of December, according to the fund’s seller, Korea Investment Management.
Launched in January 2024, the fund allocates 90 percent of its weighting to the four K-pop agencies. Its performance has outshone broader bullish markets. ACE Kpop Focus ETF has returned 57.4 percent so far this year, outperforming the KOSPI (34.4 percent) and Nasdaq 100 (13.5 percent).
"The global K-pop fandom continues to expand steadily, stretching beyond Asia to the Americas, Europe, and emerging markets," noted Nam Yong-soo, head of ETF management at Korea Investment Management.
He expected further room to grow, pointing to major events such as BLACKPINK’s upcoming full-group album and world tour this year and BTS’s scheduled return to group activities next year.
Analysts agree K-pop stocks will bask the "golden moment" that will lift them "up, up. Up."
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