Korean girl group Twice leads its agency, JYP Entertainment, to overtake YG Entertainment as the second-highest valued K-pop company.
Just three weeks into 2018, JYP Entertainment's market capitalization rose by 22 percent, or 552 billion won (around $515 million), on the Korean Securities Dealers Automated Quotations or KOSDAQ.
The shift brings JYP Entertainment, founded by musician Park Jin Young, on the second spot of the top 3 South Korean agencies, ahead of former second placer YG Entertainment, established by Yang Hyun Suk. The latter is currently valued at 533 billion won (around $498 million).
JYP's success is largely attributed to the 9-member girl group Twice, whose massive success has swept the world by storm.
Just this Sunday, JYP announced that the group's music video for its single "Heart Shaker" has reached over 100 million views, just some 40 days after it was released on Dec. 11, 2017.
This makes it Twice's seventh music video to overcome the 100 million benchmark. "Heart Shaker" is just one of the ninesome's four anthemic releases in 2017, which also includes "Likey," "Signal," and "Knock Knock."
Twice could not have done it alone for JYP, however. It got a lot of help from its label mates. Boy group GOT7 has been getting a lot of attention internationally. Former Miss A member Suzy (Suji Bae) also made a huge buzz last year not just as a singer but also as a rising actress with her hit drama "While You Were Sleeping." She is scheduled to make a solo comeback on Jan. 29.
Meantime, still on top of the so-called "Big 3" is SM Entertainment Co., which remains far ahead with a value of 829 billion won (around $779 million). Its big lead is huge thanks to the sold-out albums of its top acts in the past year. Leading the pack is boy group EXO, who released its fourth studio album, "War," in July 2017.
Legendary groups Girls Generation and Super Junior, the pillars of second-generation K-pop, also both made huge comebacks in the past year, ensuring that SM maintains its top spot.
