“JYP Creative” in the U.S. Closes Down
JYP Entertainment closed down their U.S. office, “JYP Creative” on March 22. “JYP Creative” was opened in November, 2011. It was created in the U.S. in order to aid JYP Entertainment’s entrance into the U.S. market. Around $1.2 million was invested into “JYP Creative.”
The first year the company incurred a loss of around $120 thousand and last year it incurred a loss of nearly $1.7 million. That is why JYP Entertainment has come to the decision to close the company. Besides “JYP Creative,” the traditional Korean BBQ restaurant “Kristalbell” also incurred significant losses. It opened in 2011 near Korea Town in Manhattan. The restaurant will continue to run for now.” However, JYP stated that they just closed down their U.S. office and will not change their plans of promoting in the U.S.