[Special Stock] YLab Surges Over 17% on News of Content Deal with Netflix

Webtoon production company YLAB is showing a strong performance with a 17% increase following news of content supply to the global online video service (OTT) company Netflix.

As of 9:32 AM on the 18th, YLAB's stock price is recorded at 5,760 KRW, up 17.91% compared to the previous trading day.

The surge in buying is interpreted as a reaction to YLAB's announcement the previous day that it had signed a contract to provide OTT content to Netflix until August 31 of next year.

YLAB has 9.3% stakes held by Naver Webtoon and CJ ENM respectively. It secures one of the largest numbers of webtoon copyrights and business rights in Korea. It distributes self-produced webtoons on webtoon platforms such as Naver Webtoon and KakaoPage, and generates revenue through various related businesses utilizing IP, including production of dramas and movies, as well as launching games and music.