Shark sightings exceeding 3 meters in length have been reported for three consecutive days in downtown Busan, leading to a surge in stock prices for The Pinkfong Company, which holds the intellectual property rights for the song 'Baby Shark.'
According to the Korea Exchange, as of 10:25 a.m. on September 21, The Pinkfong Company’s stock rose by 930 won (7.69%) to 13,030 won compared to the previous trading day.
The spike in The Pinkfong Company’s stock is attributed to the recent shark appearances in Busan, which have drawn attention as a related meme stock. Sharks measuring 3 to 4 meters were spotted at the Busan Dong-gu North Port waterfront park from September 18 to 20, generating significant buzz.
In conjunction with the shark sightings, the 'Shark Family' and 'Baby Shark' have also gained renewed attention in the stock market. The 'Shark Family' song gained worldwide popularity and reached number 32 on the U.S. Billboard Hot 100 chart in 2019, remaining on the chart for 20 consecutive weeks. The Pinkfong Company owns the intellectual property for the 'Shark Family.'
In the domestic stock market, it is not uncommon for companies to be grouped as thematic stocks based on their names or associations with social issues, even if there is no direct connection to their business or performance. Recently, after lawmaker Yoon Hye-in was nominated as the Minister of Gender Equality and Family, the listed company Hyein saw significant stock movement as part of the so-called 'Yoon Hye-in theme stock.'
* This article has been translated by AI.
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