Mixed reviews for the sequel to Netflix's hit series “Squid Game” sent stocks of South Korean companies connected to the show plummeting on Friday.
Artists United, a marketing company whose largest shareholder is “Squid Game'' star Lee Jung-jae, plummeted 30% on the KOSDAQ market, the daily limit. Wishwig Studio, another Artists United investor, plunged 25.3%.
Shares of Dexter Studios, a South Korean production company and partner of Netflix, fell 24%.
The Korean thriller became a surprise hit in 2021, topping Netflix's list of most-watched titles across all continents and becoming the first foreign-language series to be nominated for Best Drama at the Emmy Awards.
The second season was released by the streaming giant on Thursday.
Rotten Tomatoes critics gave season 2 an 86% approval rating, while fans gave it a 62% approval rating.
The first season received 95% approval from critics and 84% from viewers.
Bela Bajaria, Netflix's chief content officer, said on the U.S. premiere of Season 2 this month, “The Squid Game broke records, becoming our most popular show in history and proving that great stories can come from anywhere.” he said. “The cultural impact was enormous worldwide.”
This survival horror series follows a secret contest in which penniless participants compete in a series of dangerous children's games to win millions of dollars in prizes.
“This season's Squid Game hints at larger-scale ambitions, but does little to pursue them,” James Ponywozik, chief television critic for The New York Times, wrote in a review.
He said it's unclear whether the second season will be a repeat of the first blockbuster story or if it will take the story elsewhere.
“While the story continues, it does little to extend the story over seven hours,” Ponywozik wrote.
Season 3 of the show is reportedly scheduled to be released in 2025.
