Investor au revoir to YG Entertainment

Investor au revoir to YG Entertainment

Well well WELL, really not a good time to be in YG Entertainment right now. After their Burning Sun Scandal (which is still ongoing), BI possible drug usage, and then “the myth the legend the boy” CEO Yang resign, YG has suffer huge losses- almost 200 billion won in losses which equates to around $164 million bucks. The stockholders lost almost as much such as National Pension Service (which is a government company) which is supposedly the biggest share holder in YG Entertainment. It saw 20 billion wons in losses (around 1.7 million bucks). Other 20000 “minor” stock holder lost a combine value of 182 billion won (154.7 million bucks). It is then with no surprise that one of the bigger investor, LKHM (otherwise known as Louis Vitton based in of course Paris) a luxury good brand absolutely demanded their money back from the entertainment agency just recently. YG Entertainment seem to be unfazed by the whole thing, basically saying they will come up with the money. Luckily for them, they are back by a government owned investor in National Pension Service so YG can probably take this blow without being scratched too badly. At least it is not one of their bigger investor like Naver (which is their second largest stockholder) asking for their money back. Money aside, this is troubling for the entertaiment company cause it just might lead to other investors calling it quits. As much as I dislike YG Entertainment, it would be unfair for their various groups and artists to be suddenly unemployed and out of business.

This just in, “the myth the legend the boy” CEO Yang finally is going to be charge in police investigations into solicting prostitutions and tax evasions. Recently he has only been investigated and look at, but remain largely untouch (except by the women) but now things have change big time.

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