Although Kpop has surfaced various times on the BBC website, the press has never been positive. But today, the BBC released an article about YG Entertainment, bringing only good news! Check out the article after the jump.
South Korea’s YG Entertainment has rallied on its first day of trading on the stock exchange with its share price doubling.
Individual investors demanded 561 times the amount of stock offered in the company’s initial public offering.
The company manages big names in Korean pop such as South Korean boy band Big Bang, and female group 2NE1.
YG’s share sale comes after the success of rival companies S.M. Entertainment and JYP Entertainment.
Korean pop, also known as K-pop, has gained popularity outside of its home market with groups touring in Japan and other parts of Asia.
It has even hit Europe, with BIGBANG members winning the Worldwide Act prize at MTV’s Europe Music Awards this year.
“YG Entertainment has positive growth potential since royalty revenues from Japan are expected to triple next year,” said Kim Shi-woo from Korea Investment and Securities.
YG’s stock climbed to 78,200 won on the Korea Exchange, compared with the IPO price of 34,000 won.
“We are looking for the shares to reach 85,600 won within a year,” Mr Kim added.
Whilst the article’s intention was to talk about YG Entertainment’s dynamic entrance to the stock market, the BBC noted Kpop’s growing success internationally, specifically BIGBANG’s win against Britney at the MTV European Music Awards a few weeks ago. Although it’s a small start, it looks like the Hallyu Wave is finally reaching the BBC’s eyes, who knows, perhaps they’ll report on United Cube! This is another win for Kpop!