[Asia Economy Reporter Jang Hyowon] Samsung Publishing is showing strong performance. This is interpreted as being influenced by the news that the Ministry of SMEs and Startups will expand the presence of brands like ‘Pinkfong’ in the Middle Eastern market as a key task this year.
As of 9:26 AM on the 6th, Samsung Publishing is trading at 25,950 KRW, up 7.02% compared to the previous day.
The Ministry of SMEs and Startups announced through the ‘2023 Major Business Plan of the Small and Medium Enterprise Policy Office’ yesterday that it will promote the entry of small and medium enterprises into Middle Eastern countries such as the United Arab Emirates (UAE) and Saudi Arabia this year.
An official from the Ministry said, “There have been multiple expressions of interest from the Middle East in Korea’s game industry, software, and entertainment,” adding, “Currently, ‘Pinkfong’ is experiencing rapid business growth in the Middle East, including Saudi Arabia and the UAE.”
In the Middle East and North Africa region, the average annual cumulative views of ‘Pinkfong’ YouTube over the past five years increased by 111%, and cumulative watch time increased by 97%. Among them, Saudi Arabia recorded 1.2 billion cumulative views and 40 million cumulative watch hours. The Pinkfong Company is implementing a localization strategy with 100% Arabic dubbing by distributing more than 500 pieces of content to ‘Shahid,’ known as the Netflix of the Middle East.
Samsung Publishing is the second largest shareholder of The Pinkfong Company, holding a 16.83% stake, which owns the intellectual property (IP) of ‘Pinkfong.’
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