YG Entertainment, one of the biggest entertainment companies in Korea, will be investing 16 billion KRW (~$14 million USD) into expanding their headquarters.
On July 2, YG, which is a listed KOSDAQ company, posted the news through the Financial Supervisory Office. They said, “The efficiency of work will increase with the purchase of real estate for the purpose of expanding headquarters,” and said that it will be spending 15,970,000,000 KRW in new facility investment, in other words, real estate.
The current YG building is located in Mapo-gu in Seoul, and it consists of seven stories above ground and one story below ground.
Meanwhile, YG is home to many powerhouse artists including PSY, BIGBANG, 2NE1, Epik High, Lee Hi, Akdong Musician (AKMU), WINNER, and iKON.