K-Pop Stocks Sink as EXO Member Leaves SM Entertainment for New Agency – Billboard

Shares of K-pop business sank today adhering to information that a member of K-pop ground EXO is leaving SM Entertainment for a various agency. According to reports, D.O. will certainly leave SM Entertainment for a new agency being developed by his long time supervisor. D.O.’s agreement runs out in very early November, SM Entertainment claimed in a declaration, and the musician “will continue with his EXO activities with SM” yet go after acting and various other tasks via the new agency..

SM Entertainment shares dropped 9% to 113,400 won ($ 83.93). Shares of YG Entertainment, home of woman team BLACKPINK, went down 9.3% to 53,700 won ($ 39.74). Shares of JYP Entertainment, home of Stray Kids and Twice, dropped 11.1% to 100,900 won ($ 74.67). HYBE, home to BTS and Tomorrow X Together, dropped 8.2% to 224,500 won ($ 166.15). Shares ofKakao Corp went down 9.6% to 39,050 won ($ 28.90). Kakao and its subsidiary …