Initial media reports surfaced last week and have divided the band’s young fan base on social media. Stocks of talent agencies took a plunge Monday after Yonhap News named Seungri, nicknamed “Korea’s Great Gatsby” for his opulent lifestyle, as a suspect in the probe involving prostitutes at clubs in the Gangnam area in Seoul. Prostitution is illegal in South Korea.A police officer at the Seoul Metropolitan Police Agency on Monday confirmed the Yonhap News report.
YG Entertainment slid as much as 14%. SM Entertainment Co., known for boy bands including EXO, fell as much as 11%, while JYP Entertainment Corp., the manager of popular girl group TWICE, dropped as much as 4.5%.“I guess I need to wait until the issue of Seungri is resolved,” said Yoon Joonwon, a fund manager at HDC Asset Management, who holds “a few shares” in K-pop stocks.
Big Bang, a boy band formed in 2006 by YG Entertainment, is on hiatus. Seungri is starting his two-year mandatory military service on March 25 according to Yonhap. On social media, some fans remained loyal to the singer and the band. Under the #SeungriDeservesBetter, user ayobigbang wrote: “We call on the real fans’ voice, do not fall into the shameless trap, we support Seungri!”
Source: Entertainment Trends (entertainmenttrends.net)
They haven't been boys for about 10 years...leftthatpartout
VI didn't invent kpop so he won't end it.
So all of kpop 'took a dive' for this one incident? Plus I had no idea kpop was traded on the 'stock market' 🤷♂️
so how is he different from any politician over there? he must not have paid off the right cop
The entertainment industry is a big sex ring.
Besides 'prostitution' and 'nightclubs,' I have no idea what anything in that headline means.
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