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101-449: YG Entertainment acquired Phoenix Holdings, a public relations company from Bongwan Group, in November 2014 and rebranded it as YG Plus. Yang Min-suk, the younger brother of YG Entertainment founder Yang Hyun-suk , was appointed as the company's CEO, with YG Entertainment owning 38.6% of the company's shares. In 2019, the company entered the music distribution industry. On January 27, 2021, it

202-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

303-515: A company or group should be considered a multi-national corporation "if it derives 25% or more of its revenue from out-of-home-country operations". Most of the current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were

404-602: A concert in Seoul at the Olympic Hall. YG Entertainment's records are distributed by the following: In March 2010, seven record labels in Korea (including the three biggest agencies: YG, SM Entertainment , JYP Entertainment , Star Empire Entertainment , Medialine, CAN Entertainment, and Music Factory) jointly established KMP Holdings , a service platform aiming to provide digital music distribution and television program productions. It

505-542: A contract with YG in May 2016 to relaunch their career. In the same month, Chinese technology enterprises Tencent and Weiying Technology announced an investment of US$ 85 million in YG. Weiying took an 8.2% stake in the company and Tencent a 4.5% stake. YG later added Lee Jong-suk , Kang Dong-won , and Kim Hee-jung to their list of actors. YG debuted their second girl group Blackpink in 2016, their first since 2NE1 , followed by

606-498: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

707-407: A form of accountability. This resignation was officially announced on June 14, 2019. CFO Hwang Bo-kyung was appointed as the new CEO of YG on June 20, 2019. In July 2019, rapper One announced that he had parted ways with YG and founded his own sole agency. Following 2NE1's disbandment in 2016, CL announced that she would not be renewing her contract with YG Entertainment in November 2019. At

808-452: A form of collaboration with GMM Grammy , Thailand's largest entertainment company with a capital of 200 billion baht (US$ 5 billion), the company will focus on entertainment and consulting businesses for concerts, theater and acting. GMM Grammy is one of the longest-serving mainstream entertainment companies in Thailand having a number of music labels along with TV and film productions. GMM Grammy

909-426: A form of strategic collaboration between Big Hit Entertainment, beNX, YG Entertainment, and YG Plus , which will work together in various business areas such as platform, distribution, content, and merchandise. YG Plus is the main distributor of Hybe Corporation 's products and beNX (now known as Weverse Company ) provides content and a platform for YG artists. On May 4, 2021, The Korea Exchange announced that YG

1010-439: A former member of the first-generation K-pop group Seo Taiji and Boys , founded YG Entertainment under the name Hyun Planning (Korean:  현기획 ). The company's first act was the hip-hop trio Keep Six. The group did not attract much popularity, and their failure sent Yang into debts of 400 million won . After Keep Six, the company changed its named to MF Planning, and launched the groups Jinusean and 1TYM . Yang credits

1111-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

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1212-522: A golf agency that handled notable professional South Korean golfers such as Kim Hyo-joo , with YG Plus' aims to expand into golf businesses. Leading golf coach Han Yeon-hee was recruited as the head instructor of the academy. In January 2017, it was renamed as YG Sports to expand into sports businesses. YG Studioplex (stylized in all caps ) is a TV drama production company jointly established by YG and Barami Bunda Inc. in April 2017. The studio will "specialise in

1313-465: A hiatus which lasted for five years. In addition, they also announced that T.O.P terminated his contract with YG. On July 1, 2022, Yang Min-suk, brother of YG Entertainment founder, Yang Hyun-suk , returned to the agency after 3 years as co-CEO, joining with the current CEO, Hwang Bo-kyung. On December 26, 2022, it was announced that both Taeyang and Daesung would be leaving YG Entertainment after 16 years. Taeyang joined The Black Label whereas Daesung

1414-487: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

1515-458: A partnership between Avex and YG for the promotion and release of all YG's material in Japan. Prior to this, YG's Japanese releases had been in partnership with Nexstar Records, a Nippon Columbia label that managed Japanese releases for Seven , and Universal Music Japan (which signed a three-year exclusive contract in 2008 for Big Bang 's Japanese releases). YGMM was established in May 2021 as

1616-497: A portmanteau of "Psy" and "YG". The label was registered as a corporate subsidiary in June and marked another chapter in the collaboration between Psy and long-time friend Yang Hyun-suk , as it was revealed that the YG CEO had implicitly promised the creation of a sub-label when Psy had signed on to the company in 2010 amidst personal difficulties, having been encouraged by his wife to work with

1717-518: A talent survival show to determine the line-up for their next boy group scheduled to debut in 2019. YG later announced that this event would produce two groups, Treasure and Magnum, both of whom would be active as Treasure 13. In 2019, the Burning Sun scandal involving Big Bang Seungri heated up, which resulted in Seungri's decision to retire from the entertainment industry on March 11, 2019. Seungri

1818-538: Is YG Plus' brand for music promotion and distribution, which started in June 2019 after it took over the operation of social media accounts of the now-defunct sister label HIGHGRND . YG Entertainment YG Entertainment ( Korean :  YG 엔터테인먼트 ) is a South Korean multinational entertainment agency established in 1996 by Yang Hyun-suk . The company operates as a record label , talent agency, music production company, event management and concert production company, and music publishing house. In addition,

1919-421: Is a corporate organization that owns and controls the production of goods or services in at least one country other than its home country. Control is considered an important aspect of an MNC to distinguish it from international portfolio investment organizations , such as some international mutual funds that invest in corporations abroad solely to diversify financial risks. Black's Law Dictionary suggests that

2020-760: Is looking for a new start under a new agency, and both reassured that they will remain BigBang members. On December 30, 2022, YG announced that all remaining members of iKon had decided not to renew their contracts after 7 years in the industry. The debut of YG's new girl group in seven years, Babymonster , was also teased, before their debut date was announced to be on November 27, 2023. On July 22, 2024, 2NE1 re-signed with YG and would celebrate their 15th anniversary world tour starting in October 2024. In October 2024, 2NE1 officially kicked off their much-anticipated 15th anniversary reunion tour, titled " Welcome Back ", starting with

2121-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

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2222-401: Is set to hold a 51% stake in the company, while the other 49% belongs to YG Entertainment. KPlus (formerly YG K+) is a partnership between YG and Chorokbaem Media as a Korean model management company. As of 2014, KPlus model agency housed over 170 models, including Kang Seung-hyun , Park Hyeong-seop, Lee Sung-kyung , Nam Joo-hyuk , Jang Ki-yong , Sandara Park , and Choi Sora. Since

2323-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

2424-930: The British East India Company founded in 1600 and the Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

2525-561: The KOSDAQ the year before. That same year, the label signed rapper and producer Tablo , leader of the hip hop group Epik High , relaunching his career after a musical hiatus following his Stanford controversy . Tablo's band Epik High later transitioned into the record label following his success. Yang's increased involvement on competitive reality television series led to several record deals with contestants, starting with K-pop Star ' s first season runner-up Lee Hi . Other participants on

2626-411: The "YG Underground" label, which housed 45RPM and Stony Skunk . In 2001, YG changed to its current name, YG Entertainment, which was named from the initials of Yang Goon, and a second YG Family album was released. Among others, the album featured a 13-year-old G-Dragon , who was then a trainee. The agency found success in both Korea and Japan with its first " idol " singer Seven in 2003, who became

2727-650: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

2828-546: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

2929-557: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

3030-675: The Korean Committee for UNICEF in disaster relief following the earthquake in Nepal . In March 2022, YG donated ₩500 million to Hope Bridge Disaster Relief Association to help residents affected by wildfires in Uljin, Gyeongbuk, Samcheok, and Gangwon. Multinational corporation A multi-national corporation ( MNC ; also called a multi-national enterprise ( MNE ), trans-national enterprise ( TNE ), trans-national corporation ( TNC ), international corporation , or state less corporation , )

3131-561: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

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3232-545: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

3333-458: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

3434-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

3535-527: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

3636-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

3737-609: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

3838-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

3939-562: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

4040-738: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

4141-498: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

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4242-551: The YG founder. As Psy left the company in mid-2018, PsyG has ended its operations and closed its doors. Yang Hyun-suk announced, in May 2018, that a subsidiary company called YGX Entertainment would merge with Seungri's DJ label NHR. On June 4, on his official Instagram account, he posted a picture of a business card showing Seungri as the CEO of YGX. In 2018, the label launched a dance and vocal academy, called X ACADEMY, where students could potentially be scouted by YG as trainees. In 2020,

4343-756: The album will be released in February 2022. After Jinwoo and Seunghoon finished their mandatory military service in January 2022, Winner gathered with a full lineup and announced that they would soon return with a new album and a full lineup after Seungyoon and Mino actively released solo albums during the group's break, YG Entertainment announced that Seungyoon will be releasing a single album in March 2022. Treasure and Winner will be holding concerts in April 2022, separately. In February 2022, YG Entertainment announced that Big Bang would be releasing their first comeback after

4444-462: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

4545-648: The brand, Chinese shoppers account for 40-50% of the customers. As part of YG's partnership with French luxury conglomerate LVMH , Moonshot was launched at 11 Sephora stores in Singapore and at 13 Sephora stores in Malaysia on September 24, 2015. Nona9on is a luxury street-wear brand founded in early 2012 by YG and Samsung ’s textile subsidiary company Cheil Industries . It operates through secondary retailers and pop-up stores , such as its first pop-up at Apgujeong ’s Galleria Department Store . Following its domestic success,

4646-578: The clothing line also quickly sold out in its first international pop-up stores in 10 Corso Como shops in Milan, as well as other locations in Shanghai and Hong Kong. The brand plans to open a pop-up store at JayCo in Taiwan. It often features Bobby & B.I from iKon and Lisa from Blackpink in their commercials and promotions. YG Golf Academy was established in March 2015, by acquisition of G-AD Communication,

4747-728: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

4848-650: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

4949-432: The company considered BigBang to have the most potential to become a "global artist". Asiana Airlines signed a deal with YG in January 2013, providing transportation for its personnel to and from domestic and international destinations in return for advertising. YG Plus Inc., previously named Phoenix Holdings Inc., is a publicly traded media and advertising company acquired by YG Entertainment in November 2014. In 2019,

5050-526: The company entered the music distribution industry and also engages in production, distribution, and licensing of merchandise related to music artists. In January 2021, Hybe Corporation and its technology subsidiary, Weverse Company, acquired 17.9% of the company in a merchandising and distribution deal that would see YG Entertainment's artists join Weverse in return. Following the successful formation of HIGHGRND, on September 22, 2015, YG Entertainment announced

5151-815: The company operates a number of subsidiary ventures under a separate public traded company, YG Plus , which includes a clothing line, a golf management agency, and a cosmetics brand. Current artists include Eun Ji-won , 2NE1 , Akdong Musician , Winner , Blackpink , Treasure , and Babymonster as well as actors and actresses including Cha Seung-won , Lee Sung-kyung , Jin Kyung , Jang Ki-yong , Yoo In-na , Son Na-eun and Yoo Seung-ho . Former artists include Swi.T, Moogadang, Wheesung , Epik High , 1TYM , Big Mama , Gummy , Seven , Nam Tae-hyun , Lee Jong-suk , Psy , One , Lee Hi , Jinusean , Bang Yedam , Mashiho Takata, iKon , Jisoo , Jennie , Rosé , Lisa , BigBang , and Sechs Kies . In March 1996, Yang Hyun-suk ,

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5252-445: The company unsuccessfully applied for listing on the stock exchange; it was suspected that this was because the company had too few active music groups and an unstable cash flow, despite an increase in earnings in 2009. Later that year, the label signed established artist Psy . 2012 brought YG international recognition when Psy's " Gangnam Style " gained worldwide popularity as a viral video . On August 21, it charted at number one on

5353-446: The company's first artist to attempt to cross over into the US music scene, though his US debut failed to gain momentum. Following Se7en's success, YG formed its first idol group Big Bang in 2006. Despite an initial lukewarm reception, the group's breakthrough the following year and their consistent popularity have made them one of the biggest and most bankable boy bands in the world. This

5454-679: The company's next boy band. The conclusion of the reality series saw the formation of Winner . In 2014, YG acquired T Entertainment's staff and actors including Cha Seung-won , Im Ye-jin , and Jang Hyun-sung . Through the acquisition of modelling agency KPlus , it expanded its acting division through the acting debuts of models Lee Sung-kyung and Nam Joo-hyuk . YG also signed a contract with actress Choi Ji-woo . French luxury giant LVMH 's private equity arm, L Capital Asia, later announced that it would be investing up to US$ 80 million in YG. Headquartered in Singapore , L Capital Asia would become

5555-602: The company. South Korean Moonshot (stylized in all lowercase ) is a cosmetics brand launched by YG on October 2, 2016. Developed with China's Huanya Group and in partnership with the cosmetics manufacturing company COSON, the brand is named after Apollo 11 's historical 1969 landing on the Moon. Its cosmetics are manufactured in South Korea and sold online as well as in-store in Samcheong , where according to Paik Ho-jin, an employee of

5656-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

5757-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

5858-634: The creation of another independent sub-label, to be headed by YG producers Teddy and Kush. On November 16, 2020, as per the quarterly stock report of YG Entertainment, the label was converted to an associate company status. In April 2023, The Black Label formed a joint venture with Thailand's largest conglomerate Charoen Pokphand Group called The Black Sea to expand its label into the Southeast Asian region. The label currently houses artists: Meovv , Jeon Somi , Taeyang , Rosé , Bryan Chase, Løren , Vince, and R.Tee . Highgrnd (read as "high ground")

5959-410: The end of December 2019, solo singer Lee Hi announced that YG was no longer her agency, not long after that she released a new album with AOMG . In 2020, YG announced plans for Treasure 's debut which had been delayed since 2019, Blackpink 's first full album and Big Bang 's comeback which was eventually delayed until 2022. They were expected to appear at the 2020 Coachella festival, until it

6060-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

6161-456: The group would continue as a trio. In November 2016, YG announced that CL and Dara had renewed their contracts as solo artists, indicating Park Bom's departure from the agency and the disbandment of 2NE1. On January 21, 2017, 2NE1 appeared as a trio and released "Goodbye" as a farewell song that CL wrote when she heard the news of Minji's departure. Sixteen years after the group's disbandment, first-generation K-pop boy band Sechs Kies signed

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6262-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

6363-489: The iTunes Music Video Charts. This feat was a first for a South Korean artist. By November 24, "Gangnam Style" had become the most viewed video in YouTube history, and the first video to surpass a billion views. The song was credited as the main reason for YG's share prices increasing by more than 60 per cent, with the record label subsequently filing its first annual report in 2012 with profits of over 50% after going public on

6464-516: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

6565-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

6666-509: The label was converted to a full-fledged dance group and academy with all of its actors, recording artists, and producers transferred to YG Entertainment. The YGX academy announced its end of operations on 30 April 2024. YG pledged to donate 100 won for every album sold, 1% of all merchandise sales, and 1,000 won for every concert ticket, to charities. In 2009, they raised US$ 141,000, and in 2010 $ 160,000. The company has also directly delivered US$ 4,400 worth of charcoal to families in need during

6767-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

6868-452: The last three months of 2017, causing JYP Entertainment to surpass YG as the second-highest valued K-pop company. In May 2018, Psy left the company after eight years. Epik High member Tablo announced that his hip-hop group had terminated its contract with YG after six years of working together in October 2018. At the same time, HIGHGRND and it artist have been released from YG and Epik High. In November 2018, YG announced YG Treasure Box,

6969-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

7070-488: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

7171-531: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

7272-561: The partnership, KPlus models have appeared in YG recording artists' music videos, as well as YG-owned brands' advertisement campaigns. YG has also reportedly provided YG K+ models with roles in TV dramas, notably Nam Joo-hyuk in Who Are You: School 2015 and Lee Sung-kyung in It's Okay, That's Love , and have formally transitioned models to their acting division. In April 2011, United Asia Management

7373-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

7474-682: The production of Korean Wave contents" and enter the global market. The studio was preceded by YG's attempts to get involved in the content production industry, following in the footsteps of SM Entertainment 's SM C&C and CJ E&M (now CJ ENM )'s Studio Dragon . In 2016, YG participated in a joint production with NBCUniversal by investing in SBS's Moon Lovers: Scarlet Heart Ryeo . Since then, YG has also actively recruited program directors (PD) from various terrestrial broadcasters, including Producer Park Hong-kyun , who worked on MBC's Queen Seondeok and The Greatest Love . SEOUL MUSIC ( 서울뮤직 )

7575-474: The purpose of expanding their headquarters. In that year, the company also saw the creation of two sub-labels, the first led by Tablo and the second headed by YG producers Teddy Park of 1TYM and Kush of Stony Skunk. The members of the losing team from the reality series WIN: Who is Next regrouped and debuted as iKon , along with a new member. In April 2016, Gong Minji, the youngest member of 2NE1 announced that she had left 2NE1, YG Entertainment stated that

7676-595: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

7777-419: The second-largest investor in YG with an 11.5% stake, second only to Yang Hyun-suk's 28%. In 2014 YG expanded into the beauty industry with the creation of its cosmetics brand Moonshot. In 2015, YG invested nearly US$ 100 million in a new Gyeonggi Province -based industrial complex which was slated to be complete by December 2018. Real estate in Seoul worth ₩ 16 billion (US$ 14 million) was also purchased for

7878-410: The show were signed as potential members of the label's future boy groups. On the second season of the show, both the winners, sibling duo Akdong Musician as well as runner-up Bang Ye-dam , signed under the agency. The reality program Win: Who is Next was later launched by YG, in which two teams of male trainees competed against each other for the chance to sign a contract with the label to debut as

7979-431: The solo rapper One the following year. At the end of 2017, YG with JTBC launched a talent survival show entitled Mix Nine , a contest between trainees from different agencies. Although the winning team was scheduled to debut as idols, YG revealed that the debut for the male winning group had been cancelled. The failure of the show led to incurred losses of ₩7 billion won in the first quarter and ₩4 billion won in

8080-495: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

8181-432: The success of both acts for bringing YG and the hip hop genre into mainstream Korean music. In 1998, YG changed its name once again to Yang Goon Planning, after Yang Hyun-suk's nickname Yang Goon ( 양군 ). In 1999, YG's artists released a collaborative album under the name YG Family. The label followed with releases from artists such as Perry, Masta Wu , Swi.T, Big Mama , Lexy , Gummy and Wheesung . It also established

8282-422: The time. During the second half of 2020, YG displayed a positive financial trend due to Treasure's debut album series, Blackpink's full album, Winner's Mino , Yoon 's solo activities and AKMU 's Suhyun 's solo activities. Although not in line with the expected target, this value is thought to be due to COVID-19, which caused some concerts to be cancelled. The construction of the new YG Entertainment building

8383-412: The winter season. It announced that it would be donating around US$ 500,000 for disaster relief to Japan after the 2011 Tōhoku earthquake and tsunami . In 2013, Yang Hyun-suk made headlines when he donated all of the dividends he received as a shareholder of YG to help young children needing surgery. His dividends totalled around US$ 922,000. In 2015, YG donated a total of ₩100 million (US$ 92,450) to

8484-484: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

8585-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

8686-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

8787-454: Was also reported to have colluded with the police to cover up the B.I case. Yang is also accused of money laundering, illegal gambling, and preparing sexual services for potential investors. Due to this series of scandals and controversies, Yang Hyun Suk resigned from all his positions at the agency. Likewise, his younger brother, Yang Min Suk, relinquished his position as CEO of YG Entertainment as

8888-640: Was an independent sub-label headed by Epik High 's Tablo . Announced in March 2015, the label was set up by Yang Hyun-suk under the YG Entertainment umbrella as part of a long-term goal to reach out to the Korean indie and alternative scene. On June 21, 2015, Tablo introduced the band Hyukoh via Instagram as the label's first official artist. The company had fostered artists Millic, offonoff, Punchnello, Code Kunst, Way Ched, The Black Skirts, Idiotape, and Incredivle ever since. However, on April 11, 2018, an article

8989-583: Was cancelled due to the COVID-19 pandemic . During the first half of 2020, YG's financial growth slowly rebounded after the slump. This was assisted by the direction of its business strategy which was primarily international fan oriented. Domestic public sentiment still had not shown a positive influence, but 70% of YG Entertainment's revenue came from overseas fans, most of which came from iKon 's first activities after B.I's departure and G-Dragon 's activities in China at

9090-462: Was declared complete in September 2020, this building was chosen as the most luxurious and most expensive entertainment agency building in South Korea. In January 2021, it was reported that Big Hit Entertainment and its tech division beNX had invested a total of 70 billion won (US$ 63 million) in YG Entertainment's subsidiary YG Plus, or 17.9% of the company's total shares. This investment was made as

9191-428: Was demoted in status from blue-chip companies to regular mid-sized businesses. The blue-chip status had been acquired in April 2013. The company recorded a net loss of 1.8 billion won and a return on equity of -0.5%. Its main business, music production and management, has experienced operational losses over the past two years. In 2022, YG Entertainment announced that Treasure will be coming back with their new album,

9292-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

9393-399: Was followed by YG's first successful girl group 2NE1 in 2009, who, prior to their split in 2016, were considered one of the most successful and popular girl groups in South Korea. Similarly to Seven, both groups conducted successful careers in Japan. In 2010, YG made a highly publicized move into a new building, while the old headquarters became a training facility. In the same year,

9494-441: Was formed as a joint talent management agency between YG, SM, JYP, KeyEast, AMENT, and Star J Entertainment. YG first collaborated with Californian concert promotion company Live Nation to produce BigBang's Alive Galaxy Tour (2012). Live Nation subsequently directed 2NE1's New Evolution World Tour (2012) and G-Dragon's One of a Kind World Tour (2013). General Manager of Live Nation Asia, Mats Brandt, said in an interview that

9595-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

9696-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

9797-531: Was released that Highgrnd was no longer active due to Tablo's resignation as CEO the previous year. As of the release of this article, the artists in the label soon revealed that they had signed in with other labels and had other companies to distribute their new releases that year. In June 2019, YG Plus took over the social media accounts of Highgrnd and relaunched them under the name SEOUL MUSIC . On September 1, 2016, representatives of YG announced that Psy would be leading an independent sub-label titled PsyG,

9898-405: Was revealed that Hybe Corporation , and its technology subsidiary, Weverse Company (formerly beNX) invested 70B KRW (~63M USD) in the company, acquiring 17.9% of the company in a merchandising and distribution deal that would see YG Entertainment's artists join Weverse in return. In March 2021, Choi Sung-jun was appointed as the new CEO while Yang Min-suk was appointed as the executive director for

9999-429: Was speculated that this was in challenge to the duopoly on music distribution in Korea by Mnet Media and LOEN Entertainment . In November 2012, KMP Holdings was acquired by KT Music . In January 2014, the seven agencies behind KMP Holdings formed a collective bond partnership and purchased 13.48% of KT Music 's stocks, leaving parent company KT Corporation with 49.99%. YGEX was established on April 12, 2011, as

10100-503: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

10201-505: Was then sentenced to 3 years in prison in August 2021, which was reduced to 18 months in January 2022. Comedian Yoo Byung-jae decided to leave YG before his contract ended, after this scandal further dragged the name of the agency. In early June 2019, B.I, the leader of iKon, was reported to have attempted to purchase LSD and marijuana illegally in 2016; he announced his apology to fans and declared his departure from iKon and YG Entertainment. Yang

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