FNC Entertainment’s Stock Reaches Increase of Over 29 Percent After Yoo Jae Suk Contract Announcement

It was just announced that FNC Entertainment has signed “the nation’s MC” Yoo Jae Suk. Following, it comes as no surprise that, within 10 minutes of the announcement, FNC’s stock value took a huge jump, from a steady value of about 21,800 won (approx. 19 USD) from the beginning of the day to 27,000 won (approx. 23.50 USD) in a matter of minutes. This is an increase of about 24 percent. From the end of the previous day, which stood at 20,800 won, the increase is nearly 30 percent.

Regarding the agency’s new member, FNC said, “Yoo Jae Suk is the person that best matches FNC’s vision for positive influence through great content, with his sincere image and popularity. Our connection on this front played a role in the signing of the contract.”

Yoo Jae Suk also stated, “I’m very happy to be with my close colleagues at a good company.”

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Google Finance screen capture

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