JYP Entertainment Donates Whopping Amount to National Cancer Center Foundation

JYP Entertainment made a heartfelt move to help young cancer patients.

JYP Entertainment, which was founded by Jinyoung Park, is one of the K-pop industry's biggest agencies. It recently announced a heartfelt move it made to support children and young individuals diagnosed with cancer.

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JYP Entertainment Donates to National Cancer Foundation

On Tuesday, JYP Entertainment announced (via Korea JoongAng Daily) that it signed an agreement with the National Cancer Center Foundation to donate 100 million KRW, approximately $73,500, to support the medical expenses of young cancer patients.

Director of the National Cancer Center Seo Hong Gwan and Chief Financial Officer of JYP Entertainment David Byun signed the business agreement as the company agreed to donate the whopping amount.

According to the agency, the donation will be used to fund the medical expenses of the patients, including surgery fees.

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Following the heartfelt move, the director penned a press release to thank JYP Entertainment.

"We thank JYP Entertainment for joining our journey in battling cancer [...] We find it significant that the agreement can raise awareness of overcoming and combatting cancer to the artists of JYP Entertainment and the fans of JYP Entertainment," director Seo Hong Gwan said.

Jinyoung Park, or JY Park, founded the multinational entertainment and record label conglomerate in 1997. It debuted several renowned groups in the past years, including 2PM, Stray Kids, TWICE, DAY6, and ITZY.

JYP Entertainment's Shares Reach All-Time High Price

A week before it made a donation, reports confirmed that the share price of JYP Entertainment is now 90,000 KRW ($67.23) per share. It became the first time the company hit the share mark, and the amount is expected to rise as the label plans to debut a new girl group in the US.

As of press time, JYP Entertainment has a market cap of 3.2 trillion KRW, or $2.4 billion. Its value is expected to increase as TWICE has already started its Ready To Be world tour, and Stray Kids will have its comeback in June.

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