Two sex scandals that rocked the South Korean music world have crushed the country's entertainment stocks as police investigate the involvement of celebrities in alleged criminal conduct.
YG Entertainment, the company that manages Big Bang and Seungri, has seen its stock plummet 24.8 percent since Feb. 25, after the celebrity was questioned by police over drug use and prostitution. On Tuesday, the stock traded around 36,100 Korean won, down 1 percent from the day before. Trouble first surfaced in late January, when Korean media reported that employees at Burning Sun, a nightclub then owned by Seungri, were being accused of assaulting a customer. Things spiraled in late February, when the singer was taken in for questioning by the police.
And this is different from our own entertainment industry how?
High time for South Korea to do a fast and complete clean up of the K-pop sex scandals with assurances of preventing recurrences. Failing which, k-pop will no longer find its place in the global market albeit, a great loss in its appeal. It will hurt the Country’s economy.
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