The fam­ily

Winnipeg Free Press - Section G - - ENTERTAINMENT -

A fact lit­tle known out­side South Korea is that PSY’s fa­ther, un­cle and grand­mother own a com­bined 30 per cent of DI Corp., a com­pany that makes equip­ment that semi­con­duc­tor com­pa­nies use to make com­puter chips.

It’s a stretch to plau­si­bly ex­plain how the success of Gang­nam Style will boost DI’s prof­its but that doesn’t mat­ter to the South Korean stock mar­ket. Per­haps in­spired by the pure power of pop, DI shares surged eight­fold from July af­ter PSY’s hit reached No. 2 on the Bill­board Hot 100 and No. 1 on the U.K. sin­gles chart.

It was time to cash in for PSY’s grand­mother, who sold 5,378 shares for about $65,000.

The value of CEO Yang Hyun-suk’s stake has swelled to about $200 mil­lion, mak­ing him the rich­est man in South Korea’s en­ter­tain­ment in­dus­try.

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