YG PLUS shared that the percentage of shares in the company owned by CEO Yang Min Suk has increased from 4.45 percent to 11.88 percent, as of December 24.

YG PLUS is a subsidiary of YG Entertainment and it is listed on the Korea Composite Stock Price Index (KOSPI). YG PLUS focuses on the production and distribution of YG Entertainment artists’ products and it is also an advertising agency.

The company stated on December 30, “Stockholder Yang Min Suk bought over the counter 4,385,964 common stocks (7.43 percent) from stockholder Yang Hyun Suk.”

This means Yang Hyun Suk now only possesses preferred stocks, bringing his overall shares in YG PLUS down to 0.62 percent.

YG Entertainment remains the majority stockholder in YG PLUS, with 37.63 percent of stocks. Yang Hyun Suk’s younger brother Yang Min Suk has now become the second-largest stockholder in YG PLUS.

Following major controversies surrounding the company, Yang Hyun Suk stepped down from his position at YG Entertainment in June, and Yang Min Suk resigned as CEO of the company shortly after.

Source (1)

Top Photo Credit: Xportsnews