YG Entertainment Stock Price Takes A Dip Following Shocking Reports Surrounding Gdragon And Seungri

Published Categorized as Kpop

On February 26 two shocking reports revolving around two BIGBANG members were released causing much confusion among fans and fury among netizens.

The first shocking report was released by SBS FunE who released a report claiming that Seungri was involved in offering prostitution services to an investor back in 2015.

In recorded messages, Seungri was talking to singer C, an employee and Mr. Yoo (actress Park Han Byul’s husband), the messages suggested that they were arranging to an investor to be entertained by a prostitute at Club Area, which is a club frequented by the idol himself.

YG Entertainment has previously denied the report made by SBS FunE and assured they would be proceeding with strict legal actions against the spreading of fake rumors and fake news.

Here is the full statement:

“Hello, this is YG Entertainment.

We’re here to announce our official statement regarding the reports about Seungri that were released today.

After confirming with Seungri, we found out that the report in question contains fabricated text messages and is not true.

In addition, we would like to remind you that YG will continue to take strict legal action against the distribution and/or reproduction or rumors including fake news.”

Another report was also released by Dispatch; the report discusses the possible preferential treatment of Gdragon in the military.

Dispatch’s report highlighted Gdragon’s military life, it was revealed he had taken out around 100 days out of his 364 days of military service as a leave. Thus he wasn’t promoted from a private first class to a corporal despite his fellow soldiers who enlisted around the same time receiving the promotion.

The report speculates that he hasn’t been able to receive the promotion due to the 100 days he took off

In response to the report, the White Skull Division, (where he’s serving) was contacted. They revealed that it is true he is a private first class but won’t reveal any more details since it’s about his personal information.

They also added that he will be automatically promoted after time passes.

The official also explained that Gdragon took 76 of his vacation days, 47 of those were used for medical illness and treatment.

An official also clarified that Gdragon’s personal vacation part is dismissed as a ‘no problem.’ The official stated,

“Kwon Ji Yong’s vacation days were conducted within the Army’s regulations in accordance with his personal circumstances, and there is no problem.”

As a result of the two shocking reports making their rounds to the internet, YG Entertainment stock price dipped by 4.4% (at the time of this writing), it is now priced at 45, 500 won (around $40).

Related: YG Entertainment Responds To Report That Accuses Seungri Of Finding Prostitutes for Investors   

The lowest dip for the stock was at 01:20 p.m. KST, it was priced at 43, 500 won (approx. $39).

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