Korea's largest internet portal Naver invests $90 million USD in YG Entertainment

By yckim124 Friday, March 17, 2017 52,686 7,710 47

South Korea's largest internet portal Naver has officially established a partnership with YG Entertainment.

On March 17, media outlets reported that Naver is investing around $90 million USD in the entertainment agency for a 9.14% equity stake. This is the first investment by Naver after the appointment of new CEO Han Sung Sook.

With the newly established partnership, Naver and YG Entertainment- one of Korea's biggest entertainment agency- are expected to create great synergy and produce diverse global content.

Naver has also become the second largest stakeholder in YG Entertainment following its founder.

Regarding the new partnership, a rep from YG Entertainment stated, "We can now look forward to a stable growth in the changing global environment with increased content accessibility through Naver, which attracts global users through Naver, V Live, LINE, Snow, and more."

YG Entertainment previously received an $80 million investment from LVMH (Parent company to Louis Vuitton, Dior, Fendi, and many other companies) along with an $85 million investment from Tencent (one of China's largest internet companies).

Squattingpanda • Sunday, March 19, 2017

yasss yg get that support 🔥🔥

skididdlepopper • Saturday, March 18, 2017

things are happening

alfonzo • Saturday, March 18, 2017

how is this legal? Disgusting! I don't have problem with money but this gives a reason for misuse. This is against all of kpop entertainment except of YG of course

LAFF92 • Saturday, March 18, 2017

AS I said before, when LVMH ( Louie Vuitton , Fendi etc parent company) invested around 2014. I thought, hmm, YGE must be doing something right.Then followed by Tencent. These companies will not invest if they don't see $$$, and now Naver. I'm pretty sure these companies have their own group of MBA's to assess the risks and rewards as investors and partners of YGE, hopefully not graduates from AKP School of Business though, LOL.

megamanx LAFF92 • Saturday, March 18, 2017

Actually, LVMH's investment was a loss. Back when they invested the 80 million, YG's stock was like $40. LVMH sold all their YG stock at a loss when YG was trading around $30 so they sold those shares at 60 million.

rrodriguez0309 • Friday, March 17, 2017

so the top article for the next years to come will be YG artists. yg literally now controls journalist to his will. if the yg artist's do something negative it won't be on the top of the search engine at least on naver!

sehyunkimm rrodriguez0309 • Saturday, March 18, 2017

it doesn't really work like that

alfonzo sehyunkimm • Saturday, March 18, 2017

exactly work like that!