Korean entertainment stocks gain, unfazed by US tariff concerns

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The story "Korean entertainment stocks gain, unfazed by US tariff concerns" was covered 16 hours ago by Korea Economic Daily, a news publisher based in South Korea.

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Korean entertainment stocks gain, unfazed by US tariff concerns - Korea Economic Daily

Quick Summary:

CJ ENM, the country’s largest drama and movie studio, jumped 2.55% to finish at 60,400 won.“Entertainment is a taste-driven service sector, so demand tends to remain steady regardless of economic cycles,” said one brokerage company analyst.“Even if trade conflicts escalate, these companies are unlikely to suffer direct hits.”The share price of Krafton Inc., a leading Korean gaming company, advanced 4.95% to close at 371,000 won.That reversed a 1.27% drop in the Kospi index.

South Korean entertainment and gaming stocks climbed Friday, defying a broader market drop as investors sought refuge in the sectors seen as immune to US tariffs.

Their reveues from abroad are often converted into Korean won, while operating expenses are incurred domestically, creating opportunities for foreign exchange gains.Last year, 63.8% of HYBE’s total revenue came from overseas markets.