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►►JYPE has a $5.8 million dollars debt

Believe it or not, the ultra-popular JYPE which is filled with major stars like 2PM, 2AM, Wonder Girls, etc. is actually in serious debt!

Singer and founder of JYP Entertainment, Park Jin-young has confirmed on the show ‘Seung Seung Jang Guthis past Tuesday that he is in fact, 5.8 billion won (5.8 million USD) in debt.

JYP reported that his income consists of copyright fees and a monthly salary. He also claimed that his debts were due to promotion of overseas artists.  However, he believes that even though they are causing him a large amount of debt, it is a worthwhile investment.

Cr: Popseoul

Honestly, I don’t think JYPE sending the Wonder Girls to the U.S. to promote was the brightest idea…I mean, they do get a lot more familiar with foreigners but that totally put their long-shot fame in Korea during the “Tell Me” and “So Hot” days to waste. Also, the whole “battle” against Jaebum and letting go Wonder Girl Sunmi might have contributed to their downfall too.

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