YANG HYUN-SUK Returns to YG With New Line-up…Expectations Run High for Its Stock
[조선비즈=이은영 기자] YG Entertainment’s leader YANG HYUN-SUK has made an official comeback as an executive producer at YG in 3 years. YG recently notified the comeback of G-DRAGRON and BLACKPINK JISOO’s solo debut, along with unveiling their new-girl group that was hidden in the veil. It was pointed out that YG had been relying on BLACKPINK too much over the years and had a poor lineup of artists. It is expected that their results for the year will improve along with their strengthened line-up.
According to the legal circle and related industries on the 6th, producer YANG, who gave up his title as the CEO of YG in 2019 due to the ‘Burning Sun’ scandal and allegations of covering up the drug scandal surrounding B.I. (Kim Han-bin), was recently found to be non-guilty by the court. Regarding allegations that he tried to cover up B.I.’s drug use, producer YANG was accused of threatening A who testified that B.I. purchased the drugs, and the court acknowledged that it was true YANG had threatened A, however, saw A’s testification as being unreliable.
YANG was also previously found non-guilty for arranging prostitution services related to the ‘Burning Sun’ scandal due to insufficient evidence. However, he was found guilty of overseas gambling and was sentenced to a fine.
Producer YANG stepped down from his position but appeared on YG’s official YouTube channel on the first day of the new year, 10 days after the first court ruling came out surrounding allegations of covering up the drug investigation. Producer YANG introduced their new 7-member girl group ‘BABYMONSTER’ saying that they are YG’s “First group to announce at the new building”. He then added that he “Hopes they become a group that will put this world into shock, just like how they shocked me over the past 4 years at monthly evaluations”. It had been 3 years and 6 months since producer YANG made an official statement related to his artists’ activities. Producer YANG is expected to focus on cultivating new artists.
Along with the debut of their new girl group BABYMONSTER, YG also notified comebacks by major artists. BLACKPINK JISOO will be debuting as a solo artist following JENNIE, ROSÉ, and LISA. YG had previously said, “JISOO is currently recording her solo album. She finished filming her jacket images and has been working on her music despite her busy schedule with the world tour. We will come back with great news”.
G-DRAGON from group BIGBANG also notified his comeback through a YouTube video on the 1st. G-DRAGON said, “I was personally upset I couldn’t meet with fans last year. I plan on meeting you guys through various activities, and I’m currently preparing for an album”. G-DRAGON’s solo activities come in 6 years since 2017.
TAEYANG, who recently changed his agency to ‘THEBLACKLABEL’, will also be releasing his new song which he worked on with JIMIN from BTS on the 13th. THEBLACKLABEL is an agency associated with YG, led by YG producer TEDDY. They started off as YG’s affiliated label and YG currently owns around 30% of their stock.
Despite artists such as group iKON, DAESUNG from BIGBANG, and actor KANG DONG-WON leaving YG, YG’s stock prices are rising with the strengthening of the line-up and producer YANG’s comeback. YG’s stock, which hovered around 43,000 won as of the end of last year, rose 10% to around 48,000 in just a day, with the news of producer YANG and other artists making a comeback.
Industry insiders predicted that their stock will continue to rise in 2023, as they’re predicted to have performed well in the 4th quarter of last year with BLACKPINK’s comeback in 2 years. According to the financial industry, YG is expected to record consolidated sales of 148 billion won and an operating profit of 20.8 billion won in the fourth quarter of last year. This is an increase of 66.3% and 664.5%, respectively, compared to the same period last year. BLACKPINK made a comeback as a full group in September last year for the first time in two years and kicked off their promotion activities. They recently started their world tour which is also expected to work as a plus factor for YG’s performance. In the fourth quarter of last year, BLACKPINK performed twice in Korea, 14 times in the U.S., and 9 times in Europe, attracting a total of 500,000 audiences.
BLACKPINK will also perform 24 more concerts around the globe in the first half of the year. Lee Hwan-wook, a researcher at IBK Securities said, “There will be some uncertainties with BLACKPINK’s original contract terminating in the second half of the year, but expectations are running high with BABYMONSTER’s debut in the first half of the year. It’s a year where we can look forward to major comebacks such as G-DRAGON”. The stock market predicted that YG will record 489 billion won in consolidated sales and 63 billion won in operating profit this year, exceeding last year’s annual performance estimates by 18% and 37%, respectively.
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