It’s impossible to dispute numbers and on this one the might of the Chinese government and reach of its economy has spoken. Five months after the Chinese government placed a Hallyu ban, basically a hex on Korean idols and dramas making money in Mainland China, the fallout can now be definitely measured by the precipitous fall in stock prices of Korean entertainment companies.
In the last few months, the top 12 Korean entertainment companies have on average dropped over 40% in stock price compared to the prior year. Well known entertainment agency heads like Bae Yong Joon of KeyEast, Lee Soo Man of SM Entertainment, Park Jin Young of JYP, and Yang Hyun Seok of YG have all shaved hundreds of billion Wons off their net worth. It’s still play money since they are still worth hundreds of billions of Wons, but if the Chinese Hallyu ban doesn’t let up soon expect this slide to continue. Continue reading
Another closure has arrived in the multitude of recent idol departures from the various popular SM Entertainment pop groups. Jessica Jung (Jung Soo Yeon) has officially left SM as an artist, ending her contract with the agency almost a year … Continue reading
If there is a thing called backfiring then SM Entertainment might want to consider giving a class because the company is certainly doing a bang up job at it. This week was the solo mini album release in China by … Continue reading
HOLY SHIT. I’m seriously speechless right now. What the heck is really is going on at K-pop powerhouse agency SM Entertainment? I mean this less in a rubber necking way and more concerned about whether the company is having a mini-meltdown … Continue reading
It probably seems like piling on at this point when it comes to bad news related to SM Entertainment but this latest tragic happening garners only condolences all around. SME chairman and founder Lee Soo Man‘s wife passed away after … Continue reading
The now 8-member girl’s group of SNSD (Girl’s Generation) had quite the whirlwind 24-hours since any K-ent incident I can remember in years. Now former member Jessica dropped the bombshell that she had been abruptly kicked out from SNSD even as … Continue reading
All the Korean agencies embroiled in recent scandals may want to send thank you cards and gifts to the offices of SM Entertainment. KeyEast with Kim Hyun Joong‘s domestic violence case, YG with Seungri of Big Bang‘s sketchy car accident … Continue reading