[Featured Stock] Kidari Studio Surges on News of Webtoon Expansion into the Middle East

As of 9:20 a.m. on the 17th, Kidari Studio's stock price on the KOSPI market is trading at 3,910 won, up 12.68% from the previous closing price. This appears to be due to news that Lee Jae-myung, the Democratic Party presidential primary candidate, will visit the Daegu Webtoon Library and the news of the company's main business, webtoons, expanding into the Middle East.

Kidari Studio is a global comprehensive content company operating webtoon, web novel, video, and merchandise businesses. Along with its subsidiaries, it provides webtoons and web novels through its own platforms, 'Bomtoon,' 'Lezhin Comics,' and 'DeliToon.' It also distributes various content-based products through the online merchandise platform 'Jamie Shop.'

On the previous day, Kang Yoo-jung, spokesperson for Lee Jae-myung's campaign, announced that the candidate will visit Daehyeon Library in Daegu on the 18th. Kang said, "Daegu Daehyeon Library is Daegu's first webtoon-specialized smart library," adding, "The candidate plans to express his ambition to make Korea a powerhouse of K-content and soft power through an on-site meeting with webtoon companies and artists and discuss ways to strengthen infrastructure and self-sustainability." At the same time on the 17th, companies such as YLAB, Top Media, Mr. Blue, and Finger Story are also showing gains of 5-7% on the KOSDAQ market.

Earlier, on the 15th, Kidari Studio announced that it will introduce popular Korean webtoons translated into Arabic to the Middle Eastern market for the first time through Manga Arabia, a leading content company in Saudi Arabia. Manga Arabia, a subsidiary of Saudi Research Media Group (SRMG), stated that the unique vertical scroll format, vibrant colors, and solid storytelling of webtoons are expected to provide fresh inspiration to the young readers in the Middle East.

Manga Arabia currently offers comic content for teenagers and children in the form of printed magazines and digital apps. Approximately 12 million users across 195 countries use the app globally. The printed magazine, which publishes over 250,000 copies monthly, is distributed to more than 220 locations in the Middle East region.