 |
| Members of YG Entertainment's new girl group BABYMONSTER / Courtesy of YG Entertainment |
YG's stock price rises after it unveils blueprint for 2023
By Dong Sun-hwa
Will 2023 become a banner year for K-pop powerhouse YG Entertainment?
YG, one of the most influential record labels in the K-pop world, unveiled Sunday the seven members who will be part of its new girl group, BABYMONSTER. It is the company's first all-female act in seven years, following the debut of BLACKPINK in 2016. In a short video posted on YG's official YouTube channel, founder Yang Hyun-suk described BABYMONSTER as a group of "babies with YG's DNA."
"I hope the members can wow the world in the way they surprised me with their monthly performances over the past four years," said Yang, who was introduced as YG's chief producer in the clip. "Please evaluate them based on what you can see and hear from them."
It was not only his announcement but also his appearance in YG's video that immediately made headlines, as it was Yang's first public appearance in nearly four years after he stepped down as the company's CEO in 2019. His resignation came shortly after he was accused of multiple criminal charges including blackmail. The 52-year-old was suspected of blackmailing a whistleblower to thwart an investigation into a drug scandal involving B.I ― a former member of YG's boy band, iKON ― but the Seoul Central District Court acquitted him on Dec. 22, citing a lack of evidence.
 |
| YG Entertainment founder Yang Hyun-suk / Korea Times photo by Shim Hyun-chul |
The prosecution has appealed, meaning Yang's trial has not yet ended. Nevertheless, he swiftly returned to YG, as the label was in dire need of a leader who can save its skin. Lately, two members of iconic boy group BIGBANG ― Daesung and Taeyang ― terminated their contracts with the company as did all six members of the other boy band, iKON. It remains unclear whether BLACKPINK's members, who are currently having their largest-ever world tour ― for some 1.5 million fans ― will renew their contracts this year. These uncertainties have led people to believe that YG is undergoing a major crisis.
 |
| G-DRAGON of K-pop boy group BIGBANG / Courtesy of YG Entertainment |
With the return of Yang, YG is going to take more ambitious steps this year. G-DRAGON, the leader of BIGBANG, is still in negotiations with the company over his contract as a solo artist, but the high-profile K-pop star is poised to put out a new album in 2023.
"In 2022, BIGBANG released the single, 'Still Life,' and topped major music streaming charts in Korea, but could neither meet our fans nor perform on stage," he said in a video posted on his official YouTube channel, Sunday. "I will work hard this year and take part in diverse activities."
BLACKPINK's Jisoo is set to make her solo debut as well. Although YG did not reveal the exact date, it hinted that she is in the final stages of her preparations.
YG's stock price has seen a rise after its blueprint for 2023 was unveiled. Its share price closed at 48,050 won ($37.75) on Monday ― a 9.85-percent jump from the previous trading day.
友情鏈接：
