K-pop boom makes entertainment magnates stock millionaires

The stock values of two major entertainment agency owners in Korea have exceeded 200 billion won ($176 million) on the back of growing popularity of K-pop around the world.

According to chaebul.com, a website following South Korea’s conglomerates, stakes held by S.M. Entertainment’s Lee Soo-man came in at 242 billion won; YG Entertainment’s Yang Hyun-seok’s shares stood at 223.1 billion won at closing on Aug. 24.

According to the website, foreign shares in S.M. Entertainment rose from 8.18 percent to 18.06 percent. Some of the groups under the agency’s management such as Girls’ Generation and Super Junior gained great popularity internationally, establishing firm fan bases overseas.

By Lee Woo-young  (wylee@heraldcorp.com)

Source & Image : The Korea Herald

Girls’ Generation’s debut Japanese album certified “Million” by RIAJ

Girls’ Generation has broken through the “Million” plateau in Japan.

Their self-titled debut Japanese album ‘Girls’ Generation‘ which was released back on December 28, 2011 has been certified “Million” by the Recording Industry Association of Japan (or ‘RIAJ’). The certification is based off the total numbers of CDs and DVDs sold to retailers and the RIAJ has certifications of: Gold (100,000 units), Platinum (250,000 units), Double Platinum (500,000 units), Triple Platinum (750,000 units), and Million (1,000,000 units).

This is quite an accomplishment as the only other Korean artist to be certified Million for an album was BoA who last achieved this back in 2005 with her compilation album ‘Best of Soul‘. KARA‘s second Japanese album ‘Super Girl‘ could be the next to be certified Million as they achieved the Triple Platinum certification.

In related news, Girls’ Generation is set to release their upcoming Japanese single “PAPARAZZI” on June 27th.

Congratulations to Girls’ Generation!

Source: RIAJ

Tip: George