Two members of one of South Korea's most popular idol groups are investing in the future. The future of YG Entertainment, that is.
On Friday, it was reported by South Korean media that Big Bang's Taeyang G-Dragon invested over $2 million USD in YG Entertainment subsidiaries. The two men have been managed by YG since prior to their debut as Big Bang members in 2006.
YG Entertainment revealed that the pair invested in two YG Entertainment subsidiary brands, YG Plus and Code Cosme International, also known as Moonshot Cosmetics.
According to YG Entertainment's website, Taeyang invested a little over $250,000 USD into YG Plus while G-Dragon invested around $1.6 million USD.
Meanwhile, Code Cosme International reported that G-Dragon invested around $833,600 USD and Taeyang invested around $250,000 USD.
The total amount invested by the pair is just over $2.9 million USD, and is a total of 3.6 billion South Korean won.
Earlier this week, KpopStarz reported that Big Bang's five members have a combined worth of approximately $33 million USD. G-Dragon, the leader of the group, has a personal fortune estimated around $12.34 million USD.
The news of Taeyang and G-Dragon's recent investments come at a time as K-pop entertainment labels are looking to diversify and move into new revenue channels as the popularity of K-pop ebbs.
Last year, YG Entertainment created its first two subsidiary music labels, and the company has continuously reached out to new ventures so as to continue growing, such as by moving into the cosmetics and fashion world.
YG Entertainment is home to Big Bang, Psy, Epik High, and numerous other K-pop acts.
---
Tamar Herman is a multi-media journalist and the co-founder of KultScene. She is a freelance writer and copy editor, and has written for MTV Iggy, Noisey, and Paste Magazine.
