Daewon Media Reports 172.7 Billion KRW in H1 Sales, Up 14.5% YoY

Daewon Media, a leading culture and content company in South Korea (CEO Jung Wook, Jung Dong-hoon), announced its half-year performance on the 14th through a public disclosure, reporting consolidated sales of 172.74 billion KRW, a 14.5% increase compared to the same period last year.

According to Daewon Media's disclosure, consolidated sales for the first half amounted to 172.74 billion KRW, up 14.5% year-on-year. Operating profit was 12.88 billion KRW, down 11.1% compared to the same period last year, while net profit for the period increased by 3.4% to 10.95 billion KRW.

In terms of consolidated performance, sales increased year-on-year due to ▲ increased sales of Nintendo Switch consoles and game titles following the release of the highly anticipated Nintendo Switch game "The Legend of Zelda: Tears of the Kingdom" ▲ continued growth in sales of original comic books and novels driven by the box office success of theatrical animations "Slam Dunk" and "Suzume no Tojimari." On the other hand, operating profit decreased compared to the previous year due to ▲ increased labor costs from hiring more employees to expand business ▲ increased selling and administrative expenses due to the resumption of overseas business trips.

A Daewon Media representative stated, “In the second half of the year, we are conducting the ‘Jjanggu-neun Motmallyeo Cinema Parade Tour’ events in major hot places nationwide, starting from Pangyo, followed by Daegu, Busan, and Seoul. Additionally, the ‘SpongeBob’s Wudangtang Time Travel Exhibition’ is being held successfully in Yongsan.” He added, “Especially, Studio Ghibli director Hayao Miyazaki’s first new work in 10 years, ‘How Do You Live?’, is scheduled to be released this year. We will do our best to successfully develop content businesses across various fields and improve our performance.”