Park Jin-young Richest Entertainer in Stocks
By Yoon Ja-young
Staff Reporter
Singer and producer Park Jin-young is the richest entertainer in terms of stocks, followed by actor Bae Yong-joon, an analysis showed.
According to Chaebul.com, a business portal, Park, who runs JYP Entertainment, has 28 billion won worth of stocks. He has a 32.2 percent stake in the major artist management and record label company, which is not listed on the stock market yet.
Estimating the value of JYP Entertainment at 36,499 won per share as of the end of 2006, Chaebul.com said Park's stake in the firm amounts to 28 billion won. When considering the improved performance of the business recently, the value of the entertainment guru's stocks should be even higher now.
``JYP Entertainment achieved remarkable growth, recording 9.7 billion won in sales and 860 million won in net income in six months through its group Wonder Girls,'' the portal explained. The entertainment management firm's five-member girl band captivated the public with its hit song ``Tell Me'' last year.
Analysts estimate JYP Entertainment may be considering a backdoor listing, through a merger with another company listed on the bourse.
Bae Yong-joon, who has become one of the most marketable Korean actors in Asia after the success of his TV drama ``Winter Sonata,'' was the second richest shareholder in the entertainment business. He has a 34.4 percent stake in Key East, an entertainment company listed on the junior KOSDAQ. Bae's stocks in the firm are estimated to be worth 20.4 billion won.
Key East once rose to over 70,000 won per share after Bae acquired stocks in the firm, but it fell to around 5,000 won recently as entertainment stock lost steam.
Lee Soo-man, the biggest shareholder of artist management firm S.M Entertainment, the first entertainment business listed on the stock market, is estimated to have 9.2 billion won worth of shares, ranking as the third richest stockholder in the entertainment business.
Singer Rain, who has a 14.8 percent stake in J. Tune Entertainment, worth 8.3 billion won, is the fifth wealthiest entertainer in terms of stocks, after former comedian Joo Byung-jin, who owns Good People, an underwear manufacturer listed on the bourse.