2:35 pm - 03/22/2013

JYP Entertainment liquidates U.S. based company ‘JYP Creative’

It’s been belatedly revealed that JYP Entertainment liquidated their subsidiary U.S. company, ‘JYP Creative‘, which they established back in November of 2011 in the U.S., after 1 year in November of 2012.

JYP Entertainment, headed by J.Y. Park, invested $1.2 million into the subsidiary for their activities in the U.S. However, JYP Creative recorded a net loss of 119 million KRW ($106,000) in 2011, and the loss continued, resulting in a net loss of over 1.7 billion KRW ($1.5 million) in 2012.

To help with JYP Creative activities, J.Y. Park had opened up his Korean BBQ restaurant ‘Kristalbelli‘ in New York, but it’s said the restaurant has faced losses as well. However, for the time being, the restaurant will continue to operate.

Although they’ve liquidated their American firm, the agency states that there is no change in promotion plans for their artists.

JYP Entertainment assured, “There is no problem with the agency artists promoting domestically or internationally.”

They continued, “Currently, 2PM, miss A, and other agency artists are promoting more within Asia like the countries of Japan and China, rather than the U.S. There is no immediate plans for promotions in the U.S., so there is nothing that has changed because the American firm has been dissolved.”

Source: Money Today, Newsis, Sports Seoul + akp
djlancerock 22nd-Mar-2013 05:42 pm (UTC)
Also if you preordered a WG cd 4505305390 years ago they're refunding you
oppameansit 22nd-Mar-2013 06:22 pm (UTC)
i was gonna say
prismboy 22nd-Mar-2013 07:12 pm (UTC)
yeah i got a phone call from them like a week or two ago. i totally forgot that i pre-ordered it lol.
djlancerock 22nd-Mar-2013 08:08 pm (UTC)
I found an email about it under my spam filter from the email address i used 4 years ago…lol
kuroxkitsunex3 23rd-Mar-2013 04:21 am (UTC)
Have they ever followed through on that email? A friend of mine and I were wondering if anyone else has heard from them past their initial email/phone call, since they haven't responded to our emails and we do not know if Paypal knows about this.

Edited at 2013-03-23 04:22 am (UTC)
djlancerock 23rd-Mar-2013 05:01 am (UTC)
I just emailed back last night after hearing about it and going through my spam filters to find the 3-week-old email. Obviously no response yet since it was barely a day ago, and honestly, I'm half expecting no refund until 2017 cause it took them all of 4 years to decide to give them lol

(then we can sue them cause THIS IS AMERICA)

Edited at 2013-03-23 05:02 am (UTC)
kuroxkitsunex3 23rd-Mar-2013 04:21 am (UTC)
Have they ever followed through on that phone call? A friend of mine and I were wondering if anyone else has heard from them past their initial email/phone call, since they haven't responded to our emails and we do not know if Paypal knows about this.
lysblack 22nd-Mar-2013 05:51 pm (UTC)
lysblack 22nd-Mar-2013 05:58 pm (UTC)
also it is so weird to see miss a's name next to 2PM's as a main company artists, and no WG's.

i wonder if this is why jype (finally) started to promote fei really hard (thank god), since in the end, miss a is (currently )their only girl group. maybe this mean that this good circle of promotions that is getting fei everywhere will continue and pass to the other members and miss a will grow as a group in popularity and status.
fuckurou 22nd-Mar-2013 07:04 pm (UTC)
Don't forget 15&! I think JYP already did...
lysblack 22nd-Mar-2013 07:11 pm (UTC)
i didn't, but they are not a girlgroup, but a balad duo, it's completely different.

and jype always takes long with comebacks.
juhli 22nd-Mar-2013 09:40 pm (UTC)
Wow, this is SO good! I love 15& :D
tsuyoi_hikari 23rd-Mar-2013 12:21 am (UTC)
Wow, they're really are good. The other girl's vocal isn't in the same level like the other one but with a little more practice, they're going to compliment each other voices! :)
royu_kiyo 22nd-Mar-2013 05:54 pm (UTC)
Has anyone on Omona ever gone to his restaurant in NY? Was the BBQ good?
your_insomnia 22nd-Mar-2013 06:26 pm (UTC)
Haven't tried the bbq but tried their other food - Asian inspired tapas. Not bad, drinks are alright too but overall its overpriced and the vibe is not that good tbh.
honeebs 22nd-Mar-2013 05:54 pm (UTC)
That JTune acquisition wasn't the best play in the long run.

Edited at 2013-03-22 05:55 pm (UTC)
lysblack 22nd-Mar-2013 05:55 pm (UTC)
the gorilla made it out of love okay.
honeebs 22nd-Mar-2013 05:57 pm (UTC)
shut up Taec!
lysblack 22nd-Mar-2013 06:03 pm (UTC)


Edited at 2013-03-22 06:04 pm (UTC)
honeebs 22nd-Mar-2013 06:16 pm (UTC)
Oh hyung  photo Jihoonyoucrazylol.gif
you're too kind but you know you didn't do that for me.

HAHS, the one and only. I'll be out soon and get you back on your feet.
 photo cuterainboo.gif
lysblack 22nd-Mar-2013 06:22 pm (UTC)
ugh i miss him so much.
22_taken 22nd-Mar-2013 05:54 pm (UTC)
All JYP nation fans celebrating right now.
honeebs 22nd-Mar-2013 05:59 pm (UTC)
All lies.
Restaurant will be closed by years end and WG are official done with America. No one from JYP will ever try that market again.
swhyeon1991 22nd-Mar-2013 06:00 pm (UTC)
Welp :c
froggster 22nd-Mar-2013 06:03 pm (UTC)
Was to be expected tbh

I just remembered, weren't WG going to get a show on Nickelodeon after that movie :'D
mjspice 22nd-Mar-2013 06:18 pm (UTC)
yingmoon26 22nd-Mar-2013 06:19 pm (UTC)
i assume it costs more for JYP to close his resto than run it at a loss right now...
oppameansit 22nd-Mar-2013 06:26 pm (UTC)
i figured this was coming when Like Money flopped
nortonamo 22nd-Mar-2013 06:27 pm (UTC)
Thank God tho right
eishastan 22nd-Mar-2013 06:51 pm (UTC)
Not surprised... but the end of the Wonder girls is a higher price JYP had to pay for his failed attempts in the U.S. market, he really handled everything terribly.

But we can rest knowing he won't screw Miss A or any other group by trying that market again, since he clearly doesn't know how to do it.
miamaimi 22nd-Mar-2013 08:56 pm (UTC)
But we can rest knowing he won't screw Miss A or any other group by trying that market again, since he clearly doesn't know how to do it.

thank goddess for that

Edited at 2013-03-22 08:57 pm (UTC)
supplanter 22nd-Mar-2013 08:58 pm (UTC)
Sadly, I thought Miss A would have been the better group to market to the US. Alas.
eishastan 23rd-Mar-2013 01:03 am (UTC)
I also think they have more potential than the Wonder Girls in the US market but we can't trust JYP, i think he was blinded by the sucess the Wonder Girls were having with "Nobody" and decided he had to take the risk when they were peaking... but it was a wrong move since he didn't knew what to do with them in the US and ended up linking them to nickelodeon straight to tv cheap movies and colabs with has-beens, Sunmi left the group and he lost all the fuzz and popularity the girls had in Korea.

So i don't doubt in the groups potential but i don't trust the management.
prismboy 22nd-Mar-2013 07:13 pm (UTC)
lol the JYP offices called me like two weeks ago saying that the WG album was cancelled and that they were gonna refund my money.

I'm guessing the WG's U.S. activities are done forever?
craver199103 22nd-Mar-2013 07:30 pm (UTC)
But who is surprised though?

I just hope this means they start making Miss A a priority and start actually using the group like they SHOULD be used; a DANCE group. I want CHOREOGRAPHY, I want BEATS, I want it ALL. JYPE, or whatever the fuck side-label they're on, wastes Miss A.
soramai 22nd-Mar-2013 07:45 pm (UTC)
well, no more WG in the US I presume. Good!
ahhdoh 22nd-Mar-2013 08:02 pm (UTC)
yasmine2009 22nd-Mar-2013 08:48 pm (UTC)
So I will be forever pressed that I wont get those flawless songs from the English album? ;A;
miamaimi 22nd-Mar-2013 09:01 pm (UTC)
sad for wg tbh
amandaplan 22nd-Mar-2013 09:04 pm (UTC)
so that's a goodbye to the US WG album and the JYPnation US stop that was suppose to happen last year?
xoxgoodbye 22nd-Mar-2013 09:46 pm (UTC)
Sucks for WG then. Left Korea at their prime, didn't even release their US album.
sandritablue 22nd-Mar-2013 09:50 pm (UTC)
Goodbye WG album T____T
hpn88 22nd-Mar-2013 10:35 pm (UTC)
no one could have seen the future - but it sucks that WG's career took such a turn. i still love them though <3
and from the way that promotions are going for people, it looks like they hired someone without stars in their eyes and shit for brains to manage the company
domokuniscute 22nd-Mar-2013 10:41 pm (UTC)
So no more WG album despite them definitely having at least half an album tracklist ready? The refunds should've been done a long time ago but the song content could be released? Idk. I understand can't promote = no release... just Idk how much more downhill WG can go.

Just miss my girls so much /weeps
akaich0u 23rd-Mar-2013 01:55 am (UTC)
Sad but not for a total loss. I want to be pressed about the WG English album but at the same time the girls got so much out of their time in the US/abroad anyway that I can't help but be happy they took that adventure. They grew as people, they worked with big names (even if it seems to be for naught), they headlined a US tour...Sunye met her husband! I'll take w/e WG comes my way in the future but for now I just wish this entire company good luck. It's full of good artists and good people.

(what about G-Soul though wow)
theharleyquinn 23rd-Mar-2013 04:17 am (UTC)
If JYP could go back, I know he probably would have done a looooot of things differently with the WG. I just really hope he learns from his mistake because mismanagement will cause his groups to fall behind, not any issues of their talent/potential.
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