The company passed SM this week, after jumping YG earlier this year.
South Korean music company JYP Entertainment, home to popular K-pop acts including TWICE and GOT7, surpassed all other local labels in market capitalization this week. It is the first time JYP's market capitalization has become the highest among K-pop's Big 3 music companies -- JYP, SM Entertainment and YG Entertainment.
On Thursday (Aug. 30), JYP closed on the Korean Securities Dealers Automated Quotations (KOSDAQ) stock exchange at 31,300 KRW ($28.03), bringing the company's market capitalization to 1.09 trillion KRW ($976.3 million). Former leader SM Entertainment's market capitalization was 1.08 trillion won ($967.3 million) at closing.
JYP Entertainment was founded in 1997 by J.Y. Park and listed on the KOSDAQ in 2001. It has produced many of South Korea’s most prominent K-pop acts, including Wonder Girls, Rain, 2PM and g.o.d. The past year has been one of the company’s most successful, with TWICE dominating Asian markets and GOT7 recently debuting on the Billboard Boxscore Hot Tours list after their July show at The Forum in California grossed $1.3 million. In January, JYP overtook YG for the second place spot in the Big 3.