(Photo by Victoria Jones - Pool/Getty Images)Shares of K-pop agency YG Entertainment spiked as much as 29% after the company announced that it has renewed exclusive group contracts with all four members of girl group Blackpink.
The stock closed at 48,000 South Korean won ($36.58) per share on Tuesday, near its 2023 low of 47,000 won.
But on Wednesday, it surged at the open and hit an intraday high of 61,900 South Korean won per share.
This could bring an end to the long running contract saga between the popular K-pop group and the agency.
Shares of YG previously plunged each time South Korean media reported that members of the group will not renew with the label.
Persons:
Lisa, Lalisa, Rose, Roseanne Park, Jisoo Kim, Jennie Kim, King Charles III, Yoon Suk Yeol, Kim Keon Hee, Victoria Jones
Organizations:
COP26, YG Entertainment, South Korean, YG, Munhwa Ilbo
Locations:
ENGLAND, British, Glasgow, London, England, South Korea, South Korean