After the news of G-Dragon’s departure, the stock price of YG Entertainment (122870) is showing a decline.
According to the Korea Exchange on June 7th, YG Entertainment is currently trading at KRW 88,200, down 3.18% (KRW 2,900) from the previous trading day as of 11 a.m KST.
At one point in the early trading session, it fell as much as 3.84% (KRW 3,500) to KRW 87,600. It is the first time in 20 trading days that YG Entertainment’s stock price has fallen more than 3% as of the closing price.
The expiration of G-Dragon’s exclusive contract has raised concerns about YG’s performance. Previously, YG officially announced, “Regarding G-Dragon’s advertisements and other activities, we will continue to cooperate through separate contracts.“
G-Dragon’s name has been removed from the list of artists under YG Entertainment. In YG Entertainment’s business report for the end of last year, G-Dragon’s name was listed as a key contractor, but it was missing in the report for the first quarter of this year.
According to the latest report, YG Entertainment’s affiliated singers include BLACKPINK, AKMU, WINNER, Sechskies, Jinusean, and TREASURE, totaling six artists.
G-Dragon is the main contributor who has transformed YG Entertainment into its current position as a major entertainment company.
Debuting as the leader of BIGBANG in 2006, he co-produced numerous hit songs of the group such as “Lies,” “Haru Haru,” and “Last Farewell.” He also achieved significant success through his solo career with songs like “Heartbreaker” and “Crayon.”
Source: MTN News.
