[Asia Economy Reporter Hyungsoo Park] Samsung Publishing is showing strong performance. It appears that the news of the popular children's song "Sang-eo Gajok" (Baby Shark) production company winning the first trial in a copyright lawsuit has influenced the stock price.
At 10:03 AM on the 23rd, Samsung Publishing is trading at 46,500 KRW, up 12.18% from the previous day.
Judge Lee Jung-kwon of Civil Division 208 at the Seoul Central District Court ruled against the plaintiff, Johnny Only (real name Jonathan Robert Wright), an American children's song composer, in his damages claim lawsuit against the domestic company SmartStudy, which created Sang-eo Gajok.
The video content "Baby Shark Dance" currently has over 9 billion cumulative views on YouTube, ranking first in history and gaining huge popularity.
Previously, Johnny Only claimed that his 2011 children's song "Baby Shark," a secondary work that remade a traditional folk song by adding a unique rhythm, was plagiarized by Sang-eo Gajok, and filed a lawsuit in a Korean court in March 2019.
With the copyright lawsuit victory, SmartStudy's IPO process is expected to gain momentum. SmartStudy, whose overseas sales account for 80%, including the United States, is reportedly considering listing on both the domestic KOSPI market and the U.S. NASDAQ.
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