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On Tuesday, January 23, YG Entertainment announced that the agency's General Producer, Yang Hyun-seok purchased 20 billion won worth of treasury stock, affecting its stock prices by a large bracket. The agency's stock prices, which margined around a trade of 45,400 won fell to 44,350 won after its opening on the same day, and rose to an impressive height after Hyun-seok's purchase, increasing its trading by 1%.
His recently largened shareholding of the company increased from 16.8% to 19.3%, and as the company undergoes this impressive shift, the general producer also seems to have a lot more in plan for the agency. Alongside the official announcement of his stock purchase, he also shared that they're aiming to debut at least one group within the year-end and create several growth engines for their agency through their artists.
Both the agency and its general producer seem to be determined to make 2024 a successful year in terms of both music and profit.
"We are setting a goal to announce at least one new group within this year by starting a project to discover and nurture global rookies selected through local auditions not only domestically but also overseas."
YG Entertainment's Yang Hyun-seok purchased the agency's stock worth 20 billion won and also shared future plans in terms of music
On January 23, the Korean Economy announced that YG Enertainment's general producer, Yang Hyun-seok purchased 20 billion won worth of treasury stock from the agency which not only increased his shareholding percentage with the agency by 3% but also simultaneously peaked the agency's trading percentage by 1%.
While the agency's had a rocky road the past year in terms of its stock prices, it seems that the general producer intends to make the upcoming year a success in both commercial and musical terms. YG Entertainment, which is known to hold frequent auditions to recruit new talents to add as their new artists, is planning to take a more serious route down the same, with also intentions to enlarge their targets.
Unlike their previous locally-based auditions, their upcoming auditions are expected to recruit trainees from all over the country. Additionally, Hyun-seok seems to be determined to debut a new group as the year comes to an. Here's what the agency shared with the news media outlet, Korean Economy, regarding his plans for the agency, as he stands as its largest shareholder,
"This year, we will secure new growth engines through various artists' activities and target the global market to continuously enhance shareholder value. General producer Yang Hyun-seok's share purchase is the beginning of this will and effort."
On the other hand, the K-pop agency has already announced its 2024 National Audition Tour, where YG Entertainment will make stops at several Korean cities such as Jeju, Wonju, Degu, Seoul, and more. Additionally, there have been means through which YG Entertainment has been hoping to recruit more talented and young trainees such as online auditions, global auditions, and more.
Following the stock price increase and exciting intentions of YG Entertainment for its artists in 2024, K-pop fans can expect quite a handful of intriguing content.
