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Big Hit Entertainment, the agency that represents the globally popular K-pop band BTS, has surpassed $1 billion in corporate value, a local think tank said Thursday. According to a report released by the Hyundai Research Institute, the value of the agency is estimated at between 1.28 trillion won ($1.08 billion) and 2.28 trillion won. With the valuation, the company was classified as a unicorn, meaning a nonlisted venture valued at over $1 billion. Last year, the company scored 214.2 billion won in sales and 50.2 billion won in net profit. It also outran the industry’s top three players -- S.M. Entertainment, JYP Entertainment, and YG Entertainment -- in operating profit with 64.1 billion won, up 97.1 percent from a year earlier. Full story

6 June