YG Entertainment stock falls amid uncertainties over BLACKPINK’s contracts
The stock prices of K-pop agency YG Entertainment have fallen amid uncertainties over BLACKPINK‘s contract renewals.
Yesterday (July 12), South Korean news outlet Munhwa Ilbo reported that BLACKPINK member Lisa had yet to come to an agreement about a contract renewal with YG Entertainment. It also alleged that Lisa was unlikely to renew her contract with the K-pop agency.
Soon after the report, YG Entertainment responded in a statement, saying that “contract renewals are currently under discussion”, though it did not specify which members it was referring to.
On the same day stocks of YG Entertainment, listed on the Korea Exchange, fell over six per cent by the end of trading day, closing at ₩74,300. According to CNBC, it was the stock’s lowest price since May 11, when it closed at ₩66,700.
As of 1:20pm KST on July 13, stocks of YG Entertainment are trading at around ₩74,500, after rising to a peak of ₩76,600 earlier in the morning.
BLACKPINK are currently the only girl group represented by YG Entertainment. The K-pop agency is also home to acts such as Big Bang, Winner, TREASURE and AKMU.
YG Entertainment news are set to debut its upcoming K-pop girl group BABYMONSTER in September. It also noted that a “strong hip-hop song” has been chosen for the girl group’s debut title track, with the choreography and music video already in the works.
In other K-pop news, Jungkook of K-pop boyband BTS is set to make his solo debut next month with ‘Seven’, featuring Latto. He has since released a teaser for the music video, which includes an appearance from actress Han So-hee.
The post YG Entertainment stock falls amid uncertainties over BLACKPINK’s contracts appeared first on NME.
Puah Ziwei
NME
