TwitterFacebookPinterestGoogle+

LIVE COVERAGE

South Korea’s Top 3 Entertainment Companies Face an Intense Month of Scandals

SEOUL, South Korea (FNN NEWS) – South Korea’s top three entertainment companies, YG Entertainment, SM Entertainment, and JYP Entertainment are in for a rollercoaster ride this month thanks to challenges and scandals.

YG Entertainment’s scandal, which kick-started the bad publicity of South Korea’s entertainment market, includes former Big Bang member Seungri’s Burning Sun scandal in which he and other Korean idols and police officials were involved in a sex crime known as Molka, the online distribution of non-consented sex videos taken of women.

Sex service suspensions are raised again as police receive testimony from a person involved in the case who stated that Yang Hyun Suk, founder and former CEO of YG Ent. directed her to mobilize ten prostitutes for an arranged trip to Europe and testified that Yang’s previous statements that he “didn’t know why she mobilized the women” are believed to be false. If the claim is proven to be correct it can cause another ruckus in the entertainment industry.

SM Entertainment faces turmoil from controversy over discredited capital outflow and lack of trust from their shareholders as their main boy group, EXO, prepares for military enlistment, while their rookie group NCT has yet to expand its profile sufficiently.

JYP Entertainment forecasts signs of instability as they suffer from rumors involving GOT7’s Mark in a hidden camera scandal. Girl group members Mina and Dahyun of TWICE are missing scheduled activities and events due to fatigue and other health problems.

Reportedly all three companies’ shares have fallen tremendously. According to AllKpop.com, YG’s shares continue to plummet and have lost market shares of over 500 billion won, SM’s shares that once stood at 47,000 won have slumped to 38,500 won, and JYP shares fell more than 30% from 32,500 won in April.

As of now, there seems to be no predicted solution to this growing crisis in South Korea’s Entertainment industry, as it is a stake of more damage causing concern for many fans and officials.

_____________________________________________________

Xarria Rhodel is a Florida National News contributor. | social@floridanationalnews.com

1 comment

  1. Karen A. Boyd Reply

    A very good and. Interesting article.

Leave a Reply

Your email address will not be published. Required fields are marked *

MORE WORLD NEWS

Senate Passes US-Canada-Mexico Trade Deal, a Trump Priority

WASHINGTON (AP) — The Senate overwhelmingly approved a new North American trade agreement Thursday that…

Questions of racism linger as Harry, Meghan step back

LONDON (AP) — When accomplished, glamorous American actress Meghan Markle married Prince Harry in 2018,…

Iraq calls for expulsion of US troops over deadly airstrike

BAGHDAD (AP) — The blowback over the U.S. killing of a top Iranian general mounted…

Hezbollah vows to end US military presence in region

TEHRAN, Iran (AP) — The leader of Lebanon’s Hezbollah group vowed Sunday to end the…

Pneumonia of unknown cause – China

On 31 December 2019, the WHO China Country Office was informed of cases of pneumonia…

New Russian weapon can travel 27 times the speed of sound

MOSCOW (AP) — A new intercontinental weapon that can fly 27 times the speed of…

ENTERTAINMENT NEWS

  • “Once Upon a Time ... in Hollywood” star Brad Pitt is all smiles on the 2019 Cannes Film Festival red carpet for the film's premiere Tuesday, May 21. Photo: Patience Eding/Another Concept Magazine/Florida National News.
    “Once Upon a Time ... in Hollywood” star Brad Pitt is all smiles on the 2019 Cannes Film Festival red carpet for the film's premiere Tuesday, May 21. Photo: Patience Eding/Another Concept Magazine/Florida National News.