SEOUL, July 5 (Reuters) - Shares in K-Pop management agencies fell on Wednesday, after South Korea's antitrust watchdog began investigations into any potential infractions of subcontracting rules when outsourcing production of albums and merchandise, Yonhap reported.
The Korea Fair Trade Commission (KFTC) sent investigators to the offices of HYBE (352820.KS), SM Entertainment (041510.KQ) and YG Entertainment (122870.KQ) on Tuesday, Yonhap news agency reported citing unnamed industry sources.
HYBE, SM and YG did not immediately respond to a request for comment.
Shares in HYBE, the management agency of K-Pop sensation BTS, fell 2.1% in early morning trade, versus a flat wider market (.KS11).
SM Entertainment and YG Entertainment shares also fell 1.5% and 0.4%, respectively, as of 0015 GMT, although YG later reversed losses.
Persons:
Yonhap, 1,300.0000, Joyce Lee, Jacqueline Wong
Organizations:
Korea Fair Trade Commission, SM Entertainment, YG Entertainment, SM, YG, Investment, Securities, Thomson
Locations:
SEOUL, HYBE