RaemongRaein Files Preliminary Listing Review... Full-Scale Move to KOSDAQ Transfer Listing

[Asia Economy Reporter Hyungsoo Park] Wysiwyg Studio's subsidiary, RaemongRaein, is moving from the KONEX market to the KOSDAQ market for listing.

RaemongRaein announced on the 17th that it has filed for preliminary review for listing on the KOSDAQ market. It will begin full-scale preparations aiming to enter the KOSDAQ market within this year. The listing underwriter is IBK Investment & Securities.

RaemongRaein is a drama production and distribution company strengthening its IP competitiveness based on solid planning capabilities. Its representative work is the drama "Sungkyunkwan Scandal," which aired on KBS2 in 2010.

The drama "Jaebeoljip Maknae Adeul" was co-produced with JTBC. "Jaebeoljip Maknae Adeul" is a drama based on the web novel of the same name, which ranked first in the '2017 Munpia Best Awards' and the 'Mr. Blue Awards' novel category. The drama, confirmed to star famous actors such as Song Joong-ki and Lee Sung-min, will air next year.

A RaemongRaein official said, "RaemongRaein is strengthening its own IP development through a diverse pool of over 30 genre writers," adding, "Starting with Jaebeoljip Maknae Adeul, we are preparing a lineup of about 20 titles." He also added, "Through listing on KOSDAQ, we will lead the K-drama wave not only in the domestic drama market but also in overseas markets."

If RaemongRaein’s listing process proceeds smoothly, the parent company Wysiwyg will have two listed companies within its value chain. In August, its subsidiary NP, a brand experience and new media content production company, merged with Samsung SPAC No.2 and was listed on the KOSDAQ market.

A Wysiwyg official said, "Listing RaemongRaein will further strengthen the comprehensive media content value chain competitiveness of the Wysiwyg Group," and added, "We can expect unlimited synergy such as transmedia business utilizing IP."

Wysiwyg acquired a 25.1% stake in RaemongRaein through a third-party allotment paid-in capital increase in July 2019, securing the position of the largest shareholder. To strengthen governance and maximize synergy with the Wysiwyg Group, former Wysiwyg Vice President Park Ji-bok was appointed as co-CEO of RaemongRaein and prepared for the KOSDAQ listing.