K-Pop News Weekly Top 3: Polaris Entertainment President Arrested, New Red Velvet Member, JYP Entertainment Revival

Check out the biggest K-pop news stories of the week. 

Polaris Entertainment's Parent Company Under Investigation

The future of Polaris Entertainment is up in the air after Il Kwang Group became the subject of a government investigation. Polaris Entertainment is the home of girl group Ladies' Code, actress-singer Clara, and yet-to-debut rapper Iron.  

President Lee Gyu Tae was arrested and his home is being investigated. Lee became involved in an alleged sexual harassment case with Clara, who filed a contract nullification lawsuit against Polaris.

Initial reports implied that Polaris Entertainment has been shut down, but Iron has revealed to his fans that his debut is continuing as planned.

SM Entertainments Adds New Member To Red Velvet Ahead of Comeback

 One of South Korea's most popular entertainment agencies announced the comeback of its latest girl group, Red Velvet. Along with announcing a new album, "Ice Cream Cake," SM Entertainment also revealed that a new member, Yeri, had been added to Red Velvet. The girl group had debuted in 2014 as a quintet.

Prior to releasing the title track, "Ice Cream Cake," Red Velvet released the music video for the song "Automatic."

JYP Entertainment's Announcement Leads To Immediate Uptick In Stocks

Another of South Korea's top entertainment agencies announced that it would be debuting a new boy group in 2015. Along with the upcoming boy band, likely to be the previously introduced quintet 5Live, JYP Entertainment also announced that its girl group, miss A, will make a comeback.

Shortly after the announcements, prices of JYP Entertainment's stocks rose significantly. The stock price increase also came on the heels of the news that JYP's profits had risen significantly in 2014, in comparison to 2013.

Tags
Red Velvet
yeri
polaris entertainment
JYP Entertainment
5Live
GOT7
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