K-Pop Stock Market Slump

Lisa, Jisoo, Rosé and Jennie of BLACKPINK perform onstage at the 2023 Coachella Valley Music and Arts Festival on April 22, 2023 in Indio, Calif. Four K-pop companies’ stocks fell in value by an average of 19.0% in 2024, a significant reversal of fortune after gaining an average of 30.0% the prior year. Some of the K-pop companies’ declines can be attributed to the poor showing of Korean stocks in general.

The KOSPI composite index, an index of all stocks traded on the stock market division of the Korea Exchange, fell 9.6% in 2024. Korean stocks especially suffered from political turmoil in the year’s waning weeks. Since South Korean Prime Minister Yoon Suk Yeol declared martial law on Dec. 3 through the end of the year, the KOSPI fell 4.3%. But collectively and individually, HYBE, SM Entertainment, JYP Entertainment and YG Entertainment fared worse than the South Korean stock index. The South Korean companies are expanding beyond their home country, establishing roots in the Americas and exporting their K-pop model of artist development to local markets. Many of the new projects have yet to pay dividends, however, and a lack of new releases or concerts by major artists often resulted in lower revenue and profits in recent quarters. HYBE, the company behind BTS, fared the best, dropping 10.0% to 45,800 won ($31.07). In the third quarter, YG Entertainment’s revenue dropped 42% year over year while a 14.8 billion won ($10 million) net income in the third quarter of 2023 turned into a 937 million ($636,000) net loss. by South Korean regulators over a profit-sharing deal with early investors that led Bang to realize a $285 million profit from the company’s 2020 initial public offering. HYBE has also been embroiled in an, sank 17.9% to 75,600 won ($51.28). In the third quarter, net profit fell 95.6% on 9% lower revenue. In the second quarter, net profit was down 70.3% while revenue increased 5.9% from the prior-year period

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