[Market Focus] Studio Mir Surges on "Kedeheon" Craze

As of 9:30 a.m. on July 7, Studio Mir's share price on the KOSDAQ market was up 15.31% from the previous trading day, reaching 4,082 won. This appears to be due to increased interest in domestic animation production companies, driven by the global popularity of "K-Pop Demon Hunters" ("Kedeheon"), a Netflix series featuring K-pop idols.

Studio Mir was founded in 2010 and was listed on the stock market in February 2023, based on its track record of supplying content to global OTT companies and cable channels. Studio Mir CGI, which specializes in 3D animation, is a subsidiary. The company utilizes both the main production method?handling layout, key animation, and in-betweening, which Korean companies have traditionally focused on?and the comprehensive production method, which oversees the entire animation production process. As of last year, over 90% of its revenue came from comprehensive production projects.

Since beginning its partnership with Netflix in 2019, Studio Mir has supplied animation directly and indirectly to most global OTT companies. In May of this year, the company announced a production contract with Paramount in the United States, and last month, it disclosed that it would supply content to Disney+ through Marvel Animation Studio.

The company stated, "We continue to receive more proposals than the number of projects we can produce, so we select projects that are most advantageous in terms of profitability or our company’s portfolio and proceed with their production."

Recently, "Kedeheon," produced by Sony Pictures, ranked number one in viewership on Netflix in dozens of countries. Its soundtrack has also dominated the top ranks on Spotify, further raising expectations for animation projects that incorporate Korean elements.

Meanwhile, according to the Financial Supervisory Service’s electronic disclosure system, Lee Hwan, CFO of Studio Mir, sold 87,300 shares of the company on June 20. On the same day, Kwon Jaehyun, CEO of Studio Mir CGI, also sold 15,117 shares of Studio Mir on the open market.