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[Alpha Biz=(Chicago) Reporter Paul Lee] The K-pop group BLACKPINK's "complete" contract has increased the value of YG Entertainment's general producer Yang Hyun-suk's stake by 38.8 billion won in just one day.
YG is trading at 59,100 won, down 1.99% (1,200 won) on the KOSDAQ market as of 1:25 p.m. on the 7th.
The value of Yang's stake was about 151.2 billion won based on the closing price of 48,000 won on the 5th. The stock price surged 25.63% to 60,300 won on the 6th, when BLACKPINK announced the renewal of the 'group activity'. As a result, the value of Yang's stake increased to about 190 billion won. It has increased by 38.8 billion won in just one trading day.
YG said about the contract with Blackpink members, "We have completed the board's resolution on the signing of a group-only contract for all four members." Although the contract was made only for group activities, BLACKPINK's intellectual property (IP) was protected.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
