JYP Entertainment Experiences Sharp Decline in Stock Value Following TWICE’s Tzuyu’s Controversy
JYP Entertainment has experienced a sharp decline in their stocks following TWICE’s Tzuyu’s Taiwan-China controversy. Group TWICE has temporarily halted Chinese activities as a result of backlash received from member Tzuyu holding a Taiwanese flag to show her nationality during a November broadcast of “My Little Television”.
JYP Entertainment first released a statement on January 13, and there is an obvious decline from the closing price of their stock on the KOSDAQ from the 13th to the 14th. The stock price continued to decline on Friday, closing at 5 percent lower than the opening value. As of 6 p.m. KST on Friday January 15, stocks are trading at 4,140 won per share (approximately $3.50), a 235 won decrease from the opening value (approximately $0.20).