Shares of YG K-pop agency plunge after Lisa Blackpink reportedly rejects contract renewal offer

Shares of K-pop agency YG Entertainment tumbled almost 9% on Friday after South Korean media reported that Blackpink member Lisa has rejected a contract renewal offer from the agency, reported CNBC news website.

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The share price tumble is YG’s largest one-day drop since September 28, 2022. According to South Korean news outlet Star News, Lisa, the Thailand-born member, has rejected two offers from YG, with the size of the contract reportedly worth 50 billion South Korean won ($37.6 million). In a statement to South Korean media outlet TVReport on Friday, a YG spokesperson said the company is “discussing renewing our contract with Lisa,” according to Google Translate. “The rumor has not been officially confirmed,” the person added.

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By Thai PBS World

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