YG shares price drop on news Lisa Blackpink will not renew contract
The YG Entertainment stock in South Korea dropped by nearly 9% today (September 15) after reports in South Korean media stated that Lisa Blackpink of the K-Pop girl group BLACKPINK has rejected a contract renewal offer from the agency.
The stock price of YG Entertainment experienced its most significant one-day drop since September 2022.
South Korean news agency Star News reported that Lisa, a Thai member of the K-Pop girl group, rejected the contract renewal offer from YG Entertainment. The reported value of the contract was approximately 50 billion Korean won (approximately US$37.6 million or 1.3 billion baht).
This report follows news in July stating that Lisa had not yet made a decision regarding the contract with YG Entertainment.
Around that time, South Korean media also reported that YG Entertainment's management was in negotiations with Lisa, but reports from Korean newspapers indicated that both parties had significantly differing opinions.
