YG's stock price has plummeted to a new low amid reports of illegal prostitution in a building owned by Big Bang member Daesung.
According to Korea's Stock Exchange Wednesday, YG Entertainment stock was trading at 25,500 won, a 3.77% drop from the previous day and the lowest stock price in history for the agency. YG stocks were trading at 43,000 won in January but has seen continuous decline for 6 consecutive months since Seungri's 'Burning Sun' and Yang Hyun Suk's 'prostitution' scandals.
In a related development, police recently began investigating Yang Hyun Suk as a suspect and are considering additional measures like tracking his bank accounts and enforcing a travel ban. In addition, the Seoul Regional Tax Office has announced that the committee has approved a tax probe into YG and its former CEO Yang Hyun Suk for alleged tax evasion due to irregularities detected.
Even if Yang Hyun Suk avoids legal punishment, YG Entertainment will inevitably deal with a substantial blow to its future performance.
- 1. [+529, -13] I really hope YG Entertainment goes bankrupt....I hope they're seriously hit with the biggest audit and tax penalties and their stocks plummet to nothing...if everyone boycotts them wouldn't they be ruined?
- 2. [+420, -7] Just trash~
- 3. [+364, -11] We need to get them delisted!
- 4. [+21, -2] It must be true that Yang Hyun Suk really did all that dirty work to get where they're now~
- 5. [+18, -2] How much are these kids making that Daesung can afford a 30 billion won building??
- 6. [+17, -6] Yes! I hope they're delisted soon!
- 7. [+17, -0] Naver invested 100 billion won in YG so there's no way YG will be shaken...at this point we need to pull YG out of the national pension..
- 8. [+17, -7] I really don't care if YG is ruined...but please let kids like Akdong Musician go..
- 9. [+15, -1] The biggest trash in the industry ㅋㅋㅋ... really goes to show how far an educated trash can go if he just lucks out in life ㅋㅋㅋㅋㅋ
- 10. [+12, -1] How are they still not delisted??