J.Y. Park Appointed Co-Chair of Presidential Committee for Cultural Exchange, JYP Entertainment Stock Surges

Singer J.Y. Park's appointment as co-chair of the Presidential Committee for Cultural Exchange has sent shares of his company, JYP Entertainment, on an upward trend.

Presidential Office Secretary Kang Hoon-sik announced Park's nomination during a briefing on the 9th, stating, "As one of Korea's representative singers, he has strived for the globalization of K-pop." He added, "This role will contribute to creating a flourishing South Korea where global citizens enjoy our popular culture more and we embrace diverse foreign cultures."

In response, J.Y. Park shared his thoughts on social media: "Taking on a government role is daunting and concerning for someone in the entertainment industry, and I deliberated extensively. However, I decided to take on this responsibility with the belief that we must seize the incredibly special opportunity K-pop is currently presented with."

He further elaborated, "I will organize the aspects I've felt were needed for systemic support during my time in the field to ensure effective assistance. I will also work hard to provide more opportunities for junior artists. Ultimately, I aim for K-pop to transcend promoting our culture and become a platform for global understanding and exchange."

The news of Park's appointment immediately garnered investor attention. JYP Entertainment's stock opened at 80,100 KRW on the 10th and, as of 1:30 PM, was trading at 76,700 KRW, a 1,700 KRW increase from the previous day.

This appointment, coupled with JYP Entertainment's improving financial performance, is heightening expectations for the company's growth amidst the expanding global influence of K-pop.

Park concluded by saying, "As this is a commitment made after much consideration, I ask for your advice and support. I am also sincerely grateful to Minister of Culture, Sports and Tourism Choi Kyung-ho for agreeing to take on this role alongside me; it gives me courage."

J.Y. Park is the founder and chief producer of JYP Entertainment. He debuted as a member of the group god in 1994, achieving immense popularity, and later pursued a successful solo career with numerous hit songs. Currently, he is solidifying his position as a global entertainment executive by producing K-pop idol groups such as TWICE, Stray Kids, and ITZY.