Is the world of advertising in danger? The star of a South Korean TV show has driven up the shares of an AI-driven company by 70%!
The actor from the popular South Korean TV series recently became a key investor in an advertising company that uses artificial intelligence, causing an unprecedented upward wave that pushed the company’s stock value up nearly 70% in just a few days.
South Korean company Wider Planet, which specializes in producing advertising using artificial intelligence, saw its stock value soar 69 percent in two trading sessions. The surge was boosted by the decision of popular actor from the TV series Squid Game, Yi Jong-jae, to become the company’s largest shareholder. News of his plan to hold three million shares from December 20 further boosted investor interest.
Jung Woo-sung, a well-known actor and goodwill ambassador for the United Nations High Commissioner for Refugees, will also become another shareholder of the company. His interest in the stock, coupled with his ties to prominent political figures in South Korea, including the justice minister who is running for the presidency, likely contributed to the rise of other stocks.
The Game of Squid series, which was a global phenomenon on Netflix’s streaming platform in 2021, had a positive impact on the business of several Korean companies, including Wider Planet. Production company Wysiwyg Studios, which is affiliated with I, also saw its stock value rise 30 percent.Wider Planet, with a market value of approximately $33 million, is listed on Kosdaq and provides a marketing services platform using automated big data analytics and artificial intelligence.
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