Yang Hyuk Suk has purchased ₩20.0 billion KRW (about $14.9 million USD) worth of YG Entertainment stock, raising his stake in the company from 16.8% to 19.3%.
According to a press release from YG Entertainment to media outlet MBC, Yang Hyuk Suk purchased a total of 461,940 shares of YG Entertainment stock at an average price of ₩43,300 KRW (about $32.30 USD) per share. This has increased his stake in the company from 16.8% to 19.3%. Yang Hyuk Suk remains the number one stakeholder in YG Entertainment, with Naver at second and the National Pension Service at third.
Yang Hyuk Suk’s purchase shows his firm commitment to the company’s growth. YG Entertainment will continue to manage BLACKPINK’s group activities. BABYMONSTER will be releasing their new song on February 1, and their mini-album on April 1, and TREASURE will prepare for their comeback following their Japan tour in March. In addition, a YG Entertainment representative shared the company’s future plans.
We have the goal of announcing at least one new group this year by launching a project that will both discover and develop new global rookie talents, through both local auditions and abroad.
This year, we will continue to enhance shareholder value by securing new growth routes through our various artists’ activities and targeting the global markets. Executive producer Yang Hyun Suk’s share purchase shows the start of our efforts.
— YG Entertainment
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