Foreign Investors are Interested in Psy's "Gangnam Style"
By Staff Writer | August 08, 2012 11:41 AM EDT
Many foreign investors have started to gain interest at YG Entertainment. There have been news that Psy might promote globally soon, which gained even more attention.
It was reported today that YG Entertainment's foreign ownership percentage went up to 7.09% from 1.8%.
A stock analyst commented, "Through YG's stock option event, many foreign investors took advantage of that."
YG Entertainment stated, "Through the stock option event, foreign investors took 250,000 shares through mass marketing."
YG Entertainment has always been known to be a bit behind SM Entertainment in foreign promotions. YG currently only has Big Bang and 2NE1 doing foreign activities. However, with the promotion of Psy, things could change.
Psy's "Gangnam Style" became a hit overseas and his music video is currently hitting over 12 million views.
Psy also plans to start his Japan activities in September.
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