South Korea’s Honest Commerce Fee has launched an investigation on prices of energy abuse in giant leisure corporations reminiscent of SM Leisure, YG Leisure, and Hybe.
On Wednesday, July 5, the worth of shares of Ok-pop companies dipped briefly after South Korea’s antitrust watchdog initiated an investigation.
As per South Korea’s native information publication Yonhap Information, the nation’s Honest Commerce Fee launched an investigation over allegations of energy abuse in giant leisure companies. The report notes that authorities companies have despatched “examiners” to the workplaces of SM Leisure, YG Leisure, and Hybe.
As per Yonhap, these firms allegedly violated the nation’s “subcontracting regulation” through the use of verbal contracts as a substitute of written paperwork. Moreover, they’ve additionally been delaying funds whereas producing merchandise and albums.
Hybe, the corporate representing BTS, skilled a drop in its shares, with the worth declining by as a lot as 3%. Equally, SM Leisure, one other leisure company, noticed its shares fall to a low of two.19%. Nevertheless, each firms managed to get better a few of their losses by the noon break on Wednesday.
However, the shares of YG Leisure, which manages the Ok-pop lady group Blackpink, had a smaller lower of as much as 1.49%, however later reversed its course and traded 2.23% increased. Observe that the official developments aren’t but confirmed.
Extra About Ok-Pop Leisure
Ok-pop, brief for Korean standard music, is a sort of music that began in South Korea and is now a major a part of its tradition. It encompasses varied types and genres from totally different elements of the world, together with pop, hip hop, R&B, rock, jazz, gospel, reggae, digital dance, people, nation, disco, and classical, alongside its conventional Korean music influences. The time period “Ok-pop” gained reputation within the 2000s, significantly in a world context.
The KPOP and Korean Leisure ETF is an funding fund that consists of a portfolio of 30 shares. These shares primarily characterize leisure administration firms which might be accountable for managing standard Ok-pop bands. A number of the well-known bands included on this ETF are BTS, BlackPink, and Twice. The companies related to these bands are HYBE, YG Leisure, and SM Leisure.
Earlier this 12 months, the Ok-pop group tripleS from South Korea released their latest album known as “Assemble”, and it has obtained a variety of assist from their devoted group. This pop group is made up of 24 members, and their reputation on this planet of Ok-pop is steadily rising.
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