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Analyst Who Triggered K-Pop Stock Plunge Apologizes a Day Later

Members of girl group ‘Twice’ attend the 6th Gaon Chart K-Pop Awards in 2017.

Members of girl group ‘Twice’ attend the 6th Gaon Chart K-Pop Awards in 2017.

Photograph: Han Myung-Gu/WireImage via Getty Images 

A day after analyst Kihoon Lee set off a plunge in the shares of K-pop talent agencies, he wrote another note apologizing for triggering short-selling among foreign investors.

Titling his new report "There’s no change in the industry’s growth or my own conviction," Lee -- who works at Hana Financial Investment Co. in Seoul -- said he still expects JYP Entertainment Corp., the talent agency behind girl group "Twice," to top market estimates in the fourth quarter, even though he lowered third-quarter earnings by 20 percent.