South Korean entertainment stocks drop on China's unofficial ban on Korean culture

About this update from Yg Entertainment, Inc.

** South Korean entertainment stocks drop on China's unofficial ban on Korean culture** K-Pop agency HYBE KRX:352820 falls 3%, SM Entertainment KRX:041510 drops 9%, JYP Entertainment KRX:035900 loses 6% and YG Entertainment KRX:122870 declines 6%** Film producer CJ ENM KRX:035760 falls 4% ** It will take some time to see Beijing lift an unofficial ban on Korean culture, South Korea's presidential chief of staff says in a radio interview** South Korean President Lee Jae Myung is on a state visit to China and is due to hold summit talks with Chinese President Xi Jinping later in the day, with the agenda expected to include cultural exchanges** Shares of companies with high exposure to business in China also fall, including beauty makers, game developers and travel agencies, after a rally last week ** The broader KOSPI market KRX:KOSPI up 2.5%, hits record high; the tech-heavy KOSDAQ KRX:KOSDAQ up 0.8%, as 0f 0202 GMT

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