PSY, BIG BANG, and Others Become Shareholders of YG Entertainment’s Stocks
It was announced that PSY, BIG BANG, and other YG Entertainment celebrities had recently become shareholders of YG’s stocks. On April 8, the agency announced, “Yang Hyun Suk, who holds the major rights of YG’s stock, along with the second stockholder, YG’s president CEO Yang Min Suk, have distributed 81,400 stocks to PSY, BIG BANG, and in total, 18 of YG Entertainment’s artists and actors.”
Practicing the increase of capital through the issuing of new stocks, YG Entertainment hoped to increase the profit and benefit of the agency’s stocks within the stock market. Back in February 14, the agency held a meeting between the board of directors, concluding to distribute 51.2 billion won (48,640,000 USD) in stocks. As the official payment will take place on May 2, participants of the stock distribution will further receive 0.30 share of the stock for free on May 7.