Singer Park Jin-Young was appointed co-chairman of the presidential Commission on Popular Culture Exchange under President Lee Jae-myung, prompting a rise in JYP Entertainment's stock price.
Kang Hoon, chief of staff to the presidential office, announced on the 9th in a briefing that he had nominated Park Jin-Young as co-chairman and explained, "As one of South Korea's representative singers, he has worked for the globalization of K-pop. People around the world will enjoy our popular culture more, and we too will encounter various foreign cultures, contributing to making Korea a place where culture blossoms."
In response, Park Jin-Young wrote on social media, "Taking on government work is, as someone working in the entertainment industry, very burdensome and worrisome in many ways, so I thought about it a lot, but now K-pop is facing such a special opportunity, and I decided because I thought we must make the most of this opportunity."
He added, "I will work hard to organize the areas where I thought institutional support was needed while working in the field so that practical support can be provided, and to help younger artists gain many better opportunities. And I will do my best so that K-pop can take another step forward and, beyond promoting our culture, become a venue where people around the world understand and engage with one another."
When the news of Park Jin-Young's appointment spread, investors took notice. On the 10th, JYP Entertainment's stock opened at 80,100 won. As of 1:30 p.m., it was 76,700 won, up 1,700 won from the previous day.
Park Jin-Young's appointment, combined with JYP Entertainment's improved performance, has further raised expectations about JYP Entertainment's growth potential alongside K-pop's expanding global influence.
Park Jin-Young said, "Since this is something I am starting after much thought, I ask for your advice and support. I sincerely thank Minister Choi Hwi-young of the Ministry of Culture, Sports and Tourism for agreeing to take on this work with me. Thanks to them I was able to find the courage."
[Photo] OSEN DB
[OSEN]