Several days ago, the renowned agency YG Entertainment made public the news that the renowned and experienced South Korean Idol G Dragon, will not be part of this company after his long drug case, for which he was declared innocent; However, that was not enough reason for the agency to want to continue working with him.
For a few months now, the famous singer was involved in a case of use and abuse of illegal drugs in South Korea, which led him to go through countless studies and analyzes to prove that G-Dragon was right when he said he was innocent, and it was only until a couple of days ago that the police of the Asian country finally stopped bother the renowned singer.
After this, his representative company, until then, announced that the Idol would no longer be part of their company, a decision that has so far gone badly, since YG Entertainment is losing a large amount of money in the market. When the company fired the singer, his shares were affected and fell by almost a 5.11%.
In about 4 days, YG Entertainment shares continue to fall by 2,800 won ($2.16), going from 54,800 won ($42.19) to 52,000 won ($40.03). Furthermore, this has not been the only loss that the renowned agency has suffered, since it has had to take approximately 83.5 billion won (approximately 64 million dollars) of its market capitalization of the company, having a considered loss of the total value of the company.
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