South Korea's Largest Animation Studio Studio Mir to Enter KOSDAQ on the 7th

[Asia Economy Reporter Jang Hyowon] Studio Mir, the largest animation production company in Korea, was listed on the KOSDAQ market on the 7th.

Studio Mir formed its opening price at 39,000 KRW, a 200% increase from the public offering price of 19,500 KRW, then directly hit the upper limit price with a 30% rise, closing the first trading day at 50,700 KRW, achieving a 'ttasang' finish.

The company plans to invest the public offering funds in expanding its intellectual property (IP)-based content business. Their strategy is to secure IP directly and enhance content production competitiveness through acquiring partner companies, diversifying their revenue structure.

Founded in 2010, Studio Mir is an animation total production company that internalizes all animation production processes. The veteran production team capable of total animation production is considered a key competitive advantage, with 19 directors, the largest number in Korea.

On a consolidated basis, sales reached 14.4 billion KRW in 2021, approximately doubling over the past three years. As of the third quarter of last year, cumulative sales amounted to 19.6 billion KRW, already surpassing the previous year's annual sales.

Studio Mir was the first domestic animation production company to sign a long-term partnership contract with Netflix, and also counts global content companies such as Walt Disney, DreamWorks, and Warner Bros. among its clients. Major works include Legend of Korra, Dota: Dragon's Blood, and The Witcher: Nightmare of the Wolf.

Yoo Jaemyung, CEO of Studio Mir, stated, “We will not be complacent and will continuously strive to enhance our competitiveness, aiming to become a leading animation production company representing K-content in the global market. We are grateful for the deep interest and support from the market, and we will faithfully fulfill our obligations as a listed company while working to enhance shareholder value.”