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JYP Entertainment beat CJ ENM Entertainment in terms of stock market value. The South Korean entertainment firm founded by Park Jin Young in 1997 is one of the most influential Kpop powerhouses in the country, and it has remained that way since its establishment.
Now it has outdone another leader in the Korean entertainment scene and surpassed CJ ENM’s market capitalization. The latter has been considered the largest entertainment firm in the country, and for three consecutive weeks, data showed that JYP Entertainment has a higher market cap.
As per The Korea Herald, the Korea Exchange said on Tuesday, Sept. 13, that JYP Entertainment’s shares closed at KRW63,000 or about $45.81 per share the previous Thursday, while its market cap closed at KRW2.23 trillion ahead of the Chuseok holiday.
On the other hand, CJ ENM settled at KRW91,000 on the same day and its market cap closed at just KRW1.99 trillion. The results indicated that its market cap decreased in value by 65% based on the number when it was first listed in 2018.
It was reported that this was the first time that JYP Entertainment was able to top CJ ENM’s market capitalization, as the lead has been held by the latter ever since. Being on the top for years is not surprising because CJ ENM is a much larger company in terms of sales.
Industry observers said that the global success of the company’s Kpop concerts, as well as the huge success of Twice’s Nayeon’s new album, were the reasons for the surge in JYP’s latest market cap.
Yonhap News Agency reported that the size of JYPE’s stock market value is similar to the size of the top 10 companies on the Korean Securities Dealers Automated Quotations (KOSDAQ) market. Based on the ranking of the trading board of the Korea Exchange in South Korea, CJ ENM was ranked 14.
“Compared to other entertainment industries, JYP Entertainment solely focuses their businesses related to their artists instead of sidetracking, therefore most of their project derives from the entertainment itself,” Daol Securities’ researcher, Kim Ha Jeong, commented about JYP’s latest good market cap result.
He added, “JYP Entertainment is maintaining their high evaluation reports after being recognized for their solid and yet pure business structure in 2020.”
