YG Entertainment is in a state of emergency because of the mishaps that have been occurring lately, that started with Daesung’s unfortunate accident and now G-Dragon and his suspension of indictment for smoking marijuana.
Big Bang’s G-Dragon has caused shockwaves due to his smoking marijuana. He is currently under the suspension of indictment (which is basically a warning) for smoking marijuana in Japan. According to a representative of the prosecutor’s office, “On June 15, there was a search-and-seizure and the urine test at that time had come out negative, in July a hair drug test turned out positive.”
The CEO of YG Entertainment, Yang Hyun Suk stated, “It is shocking, after we have determined the matter of fact we will give out an official response.” An insider of YG Entertainment also stated, “We are holding an emergency meeting. It appears that a lot of plans for Big Bang and GD&TOP need to be changed. G-Dragon will ‘take out some time for self-reflection’ (He is going to take a break from promoting activities). He feels a lot of remorse at the moment.”
Originally, GD&TOP were going to officially debut in Japan with the single “Oh Yeah (Feat. BOM)” on November 9.
Currently Big Bang’s other member Daesung is also going through some “self-reflection time” because of the car accident that resulted in another man’s death. Although he was acquitted, it is being said that he will not return within this year.
YG Entertainment has another major problem, stocks. In June YG Entertainment went through the initial phase for being listed on KOSDAQ, but they are still not listed. Experts are stating that the recent string of incidents will probably not stop YG Entertainment from being listed. However, YG Entertainment relies on its celebrities and their activities. Thus, all of these accidents that are occurring will probably have a negative impact on YG Entertainment stocks if they do become listed.
Currently YG Entertainment recorded sales of nearly $45 million from January 1 to June 30. 27.98% is from Big Bang’s concerts such as “2011 BIG Show” and “Love & Hope.”