The stock price of YG Entertainment (YG) dropped amid rumours that Lisa, a member of the girl group Black Pink, might not have her contract renewed.
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| Lisa BLACKPINK |
On the 12th, YG Entertainment finished at 74,300 won on the KOSDAQ, down 4,600 won (5.83%) from the day before.
Early on in the trading day, YG Entertainment's share price increased by 2% to 80,500 won. However, after learning that Lisa, one of the four members of Black Pink, would not have her contract renewed, the share price began to decline. During the day, the stock price dropped by 8%, reaching as low as 72,000 won.
The exclusive deal for BLACKPINK, who made their debut in August 2016, will end in August. The same day, Munhwa Ilbo said, "The renewal of the three members' contracts with YG Entertainment is proceeding smoothly, but there is a high possibility that Lisa will leave YG."
After August, YG Entertainment and Lisa's Chinese agency did not discuss schedules. On the basis of this, it was assumed that there were issues with Lisa's contract renewal.
When asked why Lisa's itinerary in China was set up the way it was, YG said, "It's because of Blackpink's tour and personal schedule, and it has nothing to do with whether or not she signed a contract."