While South Korea has long shed the title of developing market, an interesting article from Semafor on Goldman Sachs’ views that its stock market is currently undervaluing K-pop:
Korean pop music is ubiquitous: Six of the world’s top 20 best-selling artists in 2023, and all three of the best-selling albums, were South Korean, an industry survey said. Its power stretches beyond music: Hyundai pulled out of an aluminum supply deal after K-pop fans campaigned against the plan.
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But the market thinks it has peaked, the Financial Times’ Asia business editor wrote. Shares in the four biggest K-pop management companies have fallen over the last nine months.
Goldman Sachs researchers said this was a mistake; they suggested the shares should be 85 to 137% higher than where they were in mid-March, and predicted that the fanbase will grow rapidly for at least the next three years.
This entry was posted on Sunday, April 7th, 2024 at 11:50 pm and is filed under South Korea. You can follow any responses to this entry through the RSS 2.0 feed.
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Wildcats & Black Sheep is a personal interest blog dedicated to the identification and evaluation of maverick investment opportunities arising in frontier - and, what some may consider to be, “rogue” or “black sheep” - markets around the world.
Focusing primarily on The New Seven Sisters - the largely state owned petroleum companies from the emerging world that have become key players in the oil & gas industry as identified by Carola Hoyos, Chief Energy Correspondent for The Financial Times - but spanning other nascent opportunities around the globe that may hold potential in the years ahead, Wildcats & Black Sheep is a place for the adventurous to contemplate & evaluate the emerging markets of tomorrow.
