K-POP Demon Hunters Is a Global Hit! But...

K-POP Demon Hunters Is a Global Hit – But Why Aren’t Korean Entertainment Stocks Rising With It?

Netflix’s animated series K-Pop Demon Hunters (aka “케데헌”) is making waves across the globe. With its dazzling visuals, K-pop-inspired characters, and fast-paced action, it’s more than just a streaming hit — it’s helping to fuel global curiosity about Korean pop culture and K-pop as a phenomenon.

But here’s the catch: none of this success is doing much for Korean entertainment stocks.

Let’s be clear — this isn’t about Bang Si-hyuk’s fraud or breach-of-trust scandal. It’s about something far more basic: whoactually made K-Pop Demon Hunters. Yes, the animation draws heavily on Korean aesthetics, talent, and of course, the irresistible magnetism of K-pop idols. But at the end of the day, the series is a Sony production, not a Korean one.

In fact, K-Pop Demon Hunters is officially classified as a U.S.-based Netflix Original animated series. It might be Korean in style, but not in origin or ownership. The copyright belongs to Sony. Korean producers, singers, and visual artists may have contributed their skills, but they don’t own the final product.

There’s a Korean proverb that captures this situation perfectly:

“The bear does the tricks, but the human collects the money.”

In this case, K-pop does the tricks, while Sony and Netflix walk away with the profits.

So any hope that Korean entertainment stocks might benefit from the show’s popularity? Probably wishful thinking. Sure, Korean audiences are hyping it up: “They really captured the feel of K-pop girl groups and boy bands!” or “They even showcased Korean cultural details that we often miss ourselves!” But all of that buzz just ends up promoting the show — and boosting Sony’s and Netflix’s returns.

To be fair, this isn’t a market crisis. It’s not like Korean entertainment stocks are crashing overnight. But the reality is that the flagship of Korea’s entertainment sector — HYBE — is already under pressure from internal turmoil. And looking ahead, it may be time to face the truth: the world has already studied, understood, and absorbed the K-pop formula.

We’re past the point of nationalist pride or “K-content boosterism.” What begins in Korea might very well end in Hollywood.

HYBE stock's recent trend

For now, Korean idols are still in the spotlight, backed by Korean capital and trained through a rigorous domestic system. But once the idol-making machinery — the growth systems, the fan service models, the global marketing blueprints — are fully replicated abroad, we’ll likely start seeing idol groups funded and controlled by Japanese, American, or even Chinese investors.

And chances are, we’ll fall in love with them anyway — especially if they look and feel “Korean enough.”