Yang Hyun Suk’s Total Share Value Second Highest after YGE’s Public Listing
On November 23, YG Entertainment listed its shares on South Korea’s junior stock market, KOSDAQ, and saw its per-share value more than double on its first day of trading. As a result, Yang Hyun Suk, the founder and chairman of YGE, now holds nearly $140 million USD in stock value.
YGE shares were valued at 78,200 won ($78 USD) per share in the morning Tuesday, which is more than double its IPO price of 34,000 won ($34 USD). Yang Hyun Suk, with 47.7 percent ownership of YGE stocks, is estimated to own around $140 million USD in stocks, making him the second highest-valued person in the Korean entertainment industry, after SM Entertainmen’s Lee Soo Man who has an estimated stock of $220 million USD.
Market officials expect YGE shares to increase to around 80,000 won ($80) per share, but due to the company’s heavy reliance on Big Bang, who accounts for more than half of their total sales, the price may not see substantial increase in the short term.
In comparison, JYP Entertainment’s Park Jin Young is estimated to own approximately $16 million USD in company shares, while Key East Entertainment’s Bae Yong Joon’s total share value is around $17 million USD.
Founded in 1998, YGE manages some of the most popular K-Pop artists including Big Bang, 2NE1, Gummy, Se7en, Psy, and Tablo. Last year, they made about $75 million USD in total sales and $15 million USD in sales revenue. In 2012, they are expected to surpass $100 million USD in total sales.
Thunderstix is the Editor-in-chief for soompi.com. You can email him at email@example.com, or follow his twitter.com feed at @eugenekim222.