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
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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
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.
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.
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)
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.
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