YG Entertainment‘s stock prices have continued to plummet after their former artists and executive producer Yang Hyun Suk were caught up in multiple scandals involving drugs and corruption.
YG’s stocks closed at 28,300 won (~$24 USD) yesterday on the 18th, compared to about 6 months ago when they recorded 48,950 won (~$42 USD) on December 26, 2018. The price was nearly slashed in half within half a year.
Yang Hyun Suk, being the largest shareholder in the agency, reportedly lost 65 billion won (~$55.4 million USD) in those 6 months.
Not only did Yang Hyun Suk take a big hit, but the rest of the shareholders’ values have also sunk dramatically. Naver, the 3rd largest shareholder, lost 34.3 billion won (~$27 million USD). Even the government took a hit as The National Pension System also lost over 20 billion won (~$17 million USD).
Nearly 6 months ago, YG Entertainment’s market capitalization was valued at 890.5 billion won (~$760 million USD). On the 18th, it was valued at 514.8 billion won (~$439 million USD). It’s declined by over 57%.
Yang Hyun Suk, his CEO brother, B.I, and Seungri have all left YG Entertainment since the scandals hit the agency hard. However, reports claim it is uncertain how the agency will be able to pull through their financial hit.