South Korean pop-band member Lee Seung-hyun, who goes by the stage name Seungri, said on March 11 that he would leave the entertainment industry following local media reports that the 28-year-old was charged with providing prostitutes to foreign investors in his private club.
Shares of YG Entertainment, Lee's talent agency, fell 14 percent to 37,150 won on March 11. Shares of rival SM Entertainment also fell 10.5 percent to 40,550 won on the same day. South Korea's music industry revenue topped 2.9 trillion won in the first half of 2018, according to data from the government agency, the Korea Creative Content Agency.
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