The financial sector is closely watching how the share price of Artist United, the agency representing actor Jung Woo-sung, embroiled in an “illegitimate children scandal,” will react. Typically, scandals involving affiliated artists negatively impact the stock performance of entertainment companies.
On November 27, the Korea Exchange reported that Artist United shares had closed the previous day at KRW 17,900, up 5.98% (KRW 1,010) from the previous trading day. Then, on the morning of November 27, the stock showed a downtrend, fluctuating around KRW 17,250 and losing its previous momentum.
In the entertainment industry, scandals involving celebrities usually serve as a bearish signal for stock prices. For example, SM Entertainment recently faced a more than 3% drop in its stock price following dating rumors involving Aespa’s Karina.
Similarly, YG Entertainment saw an 8% drop in its stock price over four days after BLACKPINK’s Rosé was rumored to be dating actor Kang Dong-won in April last year. Additionally, YG faced a 9% drop in its stock price in three days due to BLACKPINK’s Lisa’s dating rumors with Frédéric Arnault.
An industry expert explained: “The more popular and attention-grabbing the celebrity is, the greater the chance that his or her personal life will influence stock prices.”
Jung Woo-sung’s case is particularly noteworthy because he is not only an Artist United actor but also an in-house director, amplifying the scandal’s potential fallout.
The market is expected to closely monitor the impact of the Jung Woo-sung controversy on Artist United’s stock performance. This control is strengthened by the recent merger of Artist United with Artist Company, a management agency representing top actors such as Ahn Sung-ki, Lee Jung-jae, Yum Jung-ah and Park Hae-jin, with the aim of become a global global entertainment company. agency. Jung Woo-sung’s dual role as both a key player and decision maker within the company places significant responsibility on his shoulders in the context of the current unrest.
Source: Daum
