YG Entertainment reported to make preparations to pay back Louis Vuitton's 67 billion KRW investment
Jun Ko, July 15, 2019, 1:27 p.m.
YG Entertainment was reported to make preparations to pay back Louis Vuitton Moe Hennessy (LVMH) for their the 67 billion KRW investment. Sources revealed that the label will be making the payment through their own cash flow, due to the difficulties they're currently facing in the conversion of their stocks. The difficulty stemmed from the decline their stocks faced after YG Entertainment was caught up in a number of scandals.
LVMH first invested 61.15 billion KRW into YG Entertainment back in October 2014 on the promise of converting the shares into stock or cash in 5 years' time.