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[BloombergBusiness] 1980s boom years living on in Korea’s outperforming media stocks

January 5, 2016

 

A scene from "Reply 1988" (Korea Times file)

A scene from “Reply 1988″ (Korea Times file)

[Bloomberg Business] — While Korean steel mills and ship yards struggled to stay in business in 2015, the nation’s media companies were busy emulating the boom years of the 1980s — literally.

Shares of CJ E&M, which owns cable TV channel tvN, doubled in 2015 as it capped a year of hits with a weekly drama called “Reply 1988.” The show depicting the lives of high school students during a year of 11.9 percent economic growth and the Seoul Olympics struck a chord with households in an economy reeling from 11 months of slumping exports.

The “Korean Wave” of popular culture that spans drama, K-Pop music, fashion and cosmetics boosted a range of stocks last year as companies around Asia sought co-productions or product tie-ins. Shares in Showbox Corp. and Chorokbaem Media Co. jumped more than 50 percent in 2015 on production tie-ups with companies from China. [READ MORE]

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