YG Entertainment Stock Plunges Amidst Rumors of Lisa Blackpink's Contract Non-Renewal

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Cindy Mutia Annur 14/07/2023 12:46 WIB

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Shares of K-pop management agency YG Entertainment plummeted amid reports that Lisa, a member of the girl group Blackpink, will not be renewing her contract with the agency.

YG Entertainment Inc. Stock Price Movement (July 13, 2022 - July 13, 2023)

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YG Entertainment Inc. Stock Price Movement (July 13, 2022 - July 13, 2023)

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The share price of K-pop management agency YG Entertainment has plummeted amid news that Lisa, a member of the girl group Blackpink, is not renewing her contract with the agency.

According to Yahoo Finance data, YG Entertainment's share price, listed on the KOSDAQ, was 74,300 South Korean Won at the close of trading on Thursday (July 13, 2023) local time. This share price is unchanged from the previous day.

However, YG Entertainment's share price fell 5.83% compared to Tuesday (July 12, 2023), when it reached 78,900 South Korean Won.

The trend shows that YG Entertainment's share price has been falling since early June 2023. The K-pop agency's stock had reached its highest point in the last year on May 31, 2023, at 95,200 South Korean Won.

News of Lisa Blackpink not renewing her contract appeared in an exclusive report by South Korean media outlet Munhwa Ilbo. "(Lisa) has not yet been able to reach an agreement (regarding contract renewal with YG Entertainment)," as quoted by CNBC International on Wednesday (July 12, 2023).

Munhwa Ilbo reported that the contract renewal process with the remaining three Blackpink members is proceeding relatively smoothly.

YG Entertainment responded to the fate of the Thai Blackpink member's contract. "Contract renewals are currently under discussion," said YG Entertainment, as reported by Newsen and quoted by CNN Indonesia on Wednesday (July 12, 2023).

Blackpink consists of Jisoo, Jennie, Rosé, and Lisa. They are one of the most successful K-pop groups at YG Entertainment.

The four-member group debuted with YG Entertainment in August 2016. Since K-pop group contracts generally last seven years, Blackpink's contract is expected to end in August this year.

According to CNBC International, Blackpink is the first Asian and K-pop group to headline the Coachella festival in the United States and the first K-pop band to headline a major festival in the UK at the BST Hyde Park festival.

Editor : Erlina Fury Santika

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."

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YG Entertainment Stock Plunges Amidst Rumors of Lisa Blackpink's Contract Non-Renewal

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