YG decides to sell ‘Queen Iron Man’ production company Studioplex

YG Entertainment is selling its broadcast production subsidiary Studioplex.

According to YG's business report, YG decided to sell 60% of Studioplex shares in December last year. The sale is expected to be completed sometime this year.

YG said, "We are pursuing a plan to sell a portion of Studioplex's shares to a production company. We are continuing our efforts to increase profitability through a sound and competitive business structure that is faithful to our core business, and we are improving Studioplex's production environment to ensure its financial soundness." “I hope we can secure it,” he said.

Previously, YG established Studio Plex in 2017 with the aim of diversifying its business and producing quality content. YG currently owns 99.86% of the shares and plans to sell 60% of the shares and transfer management rights to the buyer.

Studio Plex produced tvN's 'Queen Iron Man', MBN's 'Fluttering Alert', and SBS's 'Joseon Exorcist'. However, in the case of 'Queen Cheorin', there was great controversy with a line that devalued the Annals of the Joseon Dynasty, a UNESCO Memory of the World and national treasure, as 'mere Jirashi'. 'Joseon Exorcist' ended early after only two episodes due to controversy over historical distortion.

Choi Ji-ye, Ten Asia Reporter wisdomart@tenasia.co.kr