SEOUL, Dec 6 (Reuters) – South Korea’s YG Entertainment (122870.KQ) said on Wednesday that all four members of South Korean K-pop girl group BLACKPINK renewed their contracts with the label, causing its stock price to rise. It was announced that the price had almost increased. The third.
For months, there has been speculation that some members of BLACKPINK might not renew their contracts with the label, putting pressure on the group’s stock price.
YG Entertainment announced, “After gaining strong trust and having serious discussions with BLACKPINK, we have concluded an exclusive contract for group activities.”
A YG Entertainment official told Reuters that the label is still in talks with the group regarding an exclusive contract for solo activities.
YG Entertainment’s stock price rose as much as 29% to 61,900 won ($47.16), trading at the highest price in more than three weeks after the announcement.
Stock prices of other major Korean entertainment labels also rose. HYBE Co (352820.KS), the label of K-pop group BTS, rose 7.3%, JYP Entertainment Corp (035900.KQ) rose 5.7% and SM Entertainment (041510.KS) rose 5.7%. KQ) rose 5.2% in morning trading.
BLACKPINK set a Guinness record as the most viewed music channel on YouTube earlier this year, and currently has over 90 million subscribers.
Last month, BLACKPINK was honored by King Charles III of the United Kingdom for their work in raising awareness about climate change.
The group embarked on the global Born Pink World Tour last October, playing more than 60 shows around the world and ending in September.
(1 dollar = 1,312.5300 won)
Report by Heekyong Yang and Hyunsu Yim. Additional reporting by Youn Ah Moon.Editing: Ed Davis and Sonali Paul
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