Shares of domestic webtoon-related companies such as Mr. Blue, Finger Story, and YLAB are rising. Expectations that Naver and Netflix will strengthen their content collaboration appear to be influencing stock prices.
As of 9:23 a.m. on June 2, Mr. Blue is trading at 1,595 won, up 20.2% from the previous trading day. Finger Story and YLAB are also showing strong performances.
A comprehensive daily newspaper reported that Naver CEO Choi Soo-yeon will meet with Netflix executives together with Kim Junkoo, CEO of Webtoon Entertainment. This is the first time that CEO Choi will meet directly with Netflix executives.
There are expectations that CEO Choi will meet with Netflix executives in the United States to discuss cooperation in the North American content business. The fact that Kim Junkoo, CEO of Webtoon Entertainment, will accompany her to the meeting is drawing attention. Netflix provides not only video content but also game content through its mobile app. If Netflix collaborates with Naver, which owns a variety of content intellectual property (IP), it could be beneficial for Netflix in retaining subscribers.
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