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Disneyland Resort’s high percentage of California visitors has helped mitigate a dip in international tourists, an executive said Thursday.

More than 50% of the Anaheim theme park’s audience has typically been from California, Thomas Mazloum, president of Disneyland Resort, told reporters during a media event at Disney’s Grand Californian Hotel and Spa. As a result, the company has been able to quickly shift marketing focus to that audience, as well as its ongoing efforts to boost out-of-state attendance.

Walt Disney Co. had previously indicated a slowdown in international visitation at its U.S. theme parks in its fiscal first-quarter earnings call earlier this month.

Company executives said they expected to see “modest” growth in its operating income for its experiences sector — which includes Disney’s theme parks — due to “headwinds” in foreign visitation trends to its domestic parks, as well as pre-launch costs for its new cruise ship and a “Frozen”-themed land in Disneyland Paris.

And as Disneyland Resort hit its 70th anniversary last year, the park is looking to grow and find new audiences to stay relevant for the future.

Because of the large number of California visitors, the company recently expanded its traditional deal for Southern California locals to all residents of the Golden State. Disneyland Resort has also made its lowest-price entry ticket of $104 available year-round to active-duty members of the U.S. armed forces, and introduced a new summer promotion pricing a one-day, park-hopper kids’ ticket at $50 a day.

The theme park is also looking to attract more young families. To that end, Disneyland Resort will open an immersive theater experience called “Bluey’s Best Day Ever!” on March 22 at the Fantasyland Theatre, a nod to the massive appeal of Australian animated show “Bluey.”

“I continue to say how critical it is to expand the audience,” Mazloum said. “I still see a lot of opportunity for people who haven’t discovered Disneyland yet.”

Disney California Adventure’s Monsters, Inc. Mike & Sulley to the Rescue! ride will also stay open into 2027, Mazloum said. The ride was originally scheduled to be retired this year to make way for an “Avatar” ride and experience, but after some planning from the engineering and operations teams, it can now stay open without negatively affecting construction and project progress, he said.

The park is also looking to increase spontaneity for visitors, and will eliminate the current 11 a.m. start time for park-hopping later this year, allowing guests to move back and forth between the parks at their leisure, Mazloum said.

The plans for growth at Disneyland Resort come as Disney recently named theme parks chief Josh D’Amaro as its new chief executive. The theme parks sector he previously oversaw is Disney’s economic engine, providing the majority of the company’s operating income in the last few years.

South Korean stocks nosedived by more than 5 percent Monday, due largely to a risk-averse sentiment following the nomination of the new Federal Reserve chair, and a sharp decline in silver and gold prices. The Korean won plunged against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) tumbled 274.69 points, or 5.26 percent, to close at 4,949.67, snapping a four-session winning streak.

The country’s main bourse operator, the Korea Exchange (KRX), issued a sell-side circuit breaker for 5 minutes around noon.

Trade volume was heavy at 568.8 million shares worth 32 trillion won (US$21.9 billion). Losers outnumbered winners 795 to 116.

Foreign and institutional investors offloaded a net 2.5 trillion won and 2.2 trillion won, respectively. Retail investors, on the other hand, went bargain hunting and snapped up a net 4.6 trillion won.

Local stocks came under selling pressure following the nomination of Kevin Warsh, seen widely as a hawkish figure, as Fed chair, and sharp declines in silver and gold prices, according to Lee Kyoung-min, an analyst from Daishin Securities.

“A sharp drop in precious metals triggered the liquidation and margin call of derivatives holding them. This in turn led to the forced liquidation of other assets, as investors went to preserve margins, further amplifying the stock market’s decline,” Lee said.

International gold prices have experienced a sharp decline of over 10 percent in the past few days, while sliver prices plunged over 30 percent.

The local gold market was affected, too, with gold traded on the KRX falling to its lowest permissible limit of 10 percent Monday. It marked the first time KRX gold prices fell to the floor since the market opened in March 2014, according to the bourse operator.

“There is a possibility the benchmark KOSPI could take a breather, considering its sharp gains recently, but a daily decline of 4 to 5 percent seems excessive,” Han Ji-young, a researcher at Kiwoom Securities, said.

Shares closed lower across the board.

Market top-cap Samsung Electronics declined 6.29 percent to 150,400 won, while its chipmaking rival SK hynix tumbled 8.69 percent to 830,000 won.

Top car marker Hyundai Motor retreated 4.4 percent to 478,000 won, bio firm Celltrion lost 3.33 percent to 203,000 won, and defense giant Hanwha Aerospace closed down 4.69 percent to 1,239,000 won.

Financial shares were among the few winners.

Hana Financial Group added 3.2 percent to 103,300 won, and Meritz Financial Group inched up 0.69 percent to 117,400 won.

The Korean won was quoted at 1,464.3 won against the U.S. dollar at 3:30 p.m., down 24.8 won from the previous session.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys rose 1.4 basis points to 3.152 percent, and the return on the benchmark five-year government bonds rose 1.2 basis points to 3.448 percent.

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