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The recent rapprochement between North and South Korea after decades of animosity and short-lived détentes could make for compelling, multiseason drama.

Observers in South Korea, however, have access to many more genres. Netflix (ticker: NFLX) launched in the country about two years ago, and the streaming service has already gained a number of fans, including the South Korean government.

Korea Investment Corp., South Korea’s sovereign wealth fund, disclosed in a regulatory filing Wednesday that it purchased 100,800 additional Netflix shares in the first quarter, dramatically raising the investment to 475,000 shares.

It was a good time to binge. The first quarter was a good one for Netflix—shares soared 54%—and since March they’ve tacked on about another 12%. Shares purchased by Korea Investment in the first quarter had a market value of $29.8 million at the end of March; at the market close Thursday, they were worth $33.2 million. Barron’s has come clean about being wrong with our previous bearish call.

Apart from Netflix, South Korea’s investment vehicle also made big purchases in Micron Technology (MU), Flex (FLEX), and Kroger (KR). It also hacked off about 17% of its stake in Wells Fargo (WFC).

Korea Investment didn’t respond to a request for comment on its stock trades.

These first-quarter moves represent the last to be made before Korea Investment’s new chief executive, Heenam Choi, took office at the end of March. Choi, an executive director of the International Monetary Fund and former South Korean deputy finance minister, succeeds Sung-Soo Eun, who left Korea Investment in September to head the Export-Import Bank of Korea.

Korea Investment had assets under management of $134.1 billion at the end of 2017. It benchmarks its equity assets against the MSCI All Country World Index excluding Korea. By its own reckoning, the fund has an 8.47% total annualized return for 2012 through 2016 (the latest data available), an outperformance of a mere 0.29 percentage point. It’s not enough for Choi. Not the returns, not the assets under management.

“We need to boost our investment performance and increase our AUM to more than $200 billion to stand with the top sovereign wealth funds,” Choi was quoted in a prepared statement from Korea Investment at the time of his appointment. One wonders if he’s feeling chipper about the fund’s first-quarter trades.

Chip maker Micron had a great first quarter. Shares surged 27%, even after slipping in the wake of strong fiscal-second-quarter earnings coupled with guidance that was upside, but not high enough to meet sky-high investor expectations. The stock continues to draw conflicted sentiment, as we noted Wednesday. Korea Investment appears to be bullish, as it bought 295,000 more shares in the first quarter, ending March with 2.7 million Micron shares.

Electronics contract manufacturer Flex saw shares slump nearly 8% in the fourth quarter. It may have looked like a buying opportunity, and Korea Investment scooped up 427,000 more Flex shares, raising its investment to 1.9 million shares. Unfortunately, in late April, Flex disclosed that it is investigating allegations made by an employee that, among other things, the company “improperly accounted for obligations in a customer contract and certain related reserves.” Flex has notified the Securities and Exchange Commission, and the company is not certain if its findings will have a material impact on future results. Naturally, the stock tumbled; shares are down 11% since the end of the March.

There must be a reason Korea Investment tripled its holdings in grocer Kroger apart from the fact that the company’s ticker, KR, corresponds with South Korea’s internet country code. Maybe the slumping stock looked like a valuation play—Kroger ended the first quarter with a 12% drop, excluding dividends. Kroger provided guidance in early March that didn’t convince investors it could fend off Amazon.com (AMZN), which may be newly weaponized to destroy supermarkets after the acquisition of Whole Foods Market. Nonetheless, the sovereign fund bought 959,400 more Kroger shares, ending the first quarter with 1.5 million shares.

Korea Investment snipped away 645,000 Wells Fargo shares in the first quarter, lowering its investment in the troubled bank to 3.2 million shares. Wells Fargo tumbled 13% in the quarter, which was marked by a steady drumbeat of bad news. In March alone, stories broke that the wealth-management unit drew the attention of regulators, that its practices regarding 401(k) rollovers were being investigated by Massachusetts authorities, and that four of its top risk-management executives were leaving the company.

Last month, Wells Fargo agreed to a $1 billion fine to settle risk-management claims. This month, it has agreed to pay half that to settle a securities fraud class-action suit.

The Wells Fargo saga itself seems ripe for dramatization. Perhaps, some of the shenanigans will find their way into Beating Again, a Korean series on Netflix about a ruthless businessman who “finds a new way to look at life and love” after having a heart transplant.