J.Y. Park, founder and Chief Commercial Officer of JYP Entertainment, has purchased 6,200 new shares in the company at around 83,000 KRW per share, totaling approximately 5 billion KRW (~ $3.7 million USD).
According to an update by the Financial Supervisory Service on January 18, J.Y. Park made the purchases between January 17-18. With this, the founder's shares in JYPE has increased from 15.22% to 15.37%.
In the past few days, JYP Entertainment's stock prices plummeted by around 19.25%. It's believed that J.Y. Park took advantage of the fluctuation period to expand his own shares, purchasing more shares at a "discounted price".
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For context, HYBE and SM stock are also down similar amounts. It’s an entertainment industry wide drop, not just one company.