that of boy band g.o.d. On April 15, JYP signed a contract with Jax Coco, a Hong Kong-based coconut product company. Under the agreement, JYP and Jax Coco planned to launch coconut oil, coconut flakes, and other related products at major department stores and supermarkets in South Korea. Two groups were formed by JYP later in 2015: the rock band Day6 which debuted on September 7, and the girl group Twice, whose members were chosen from the competitive reality show Sixteen, and debuted on October 20. Venturing into the Chinese market, JYP established a music distribution partnership with China Music Corporation on February 19, 2016. This was followed by JYP jointly establishing Beijing Xin Sheng Entertainment Co. Ltd. with Tencent Music Entertainment in the same year, which oversaw the debut of the Chinese boy band Boy Story. Got7 member Jackson Wang later announced his solo endeavors in the country. On July 1, 2017, JYP acquired a property worth 20.2 billion KRW (US$18 million) in Seongnae-dong, Gangdong District, Seoul to be used as its new office. A partnership with DailyMotion, Europe's largest video platform, was also signed to open its artist channel on its platform to secure a more global fan base. 2018–2020: Further success and fourth generation K-pop artists On January 31, 2018, it was reported that JYP entered into a music business agreement with SM Entertainment, Big Hit Entertainment, and SK Telecom to launch a new music platform which will utilize various new technologies such as artificial intelligence and 5G networking. SK Telecom affiliate Iriver will be responsible for handling the music distribution of the three entertainment companies. In line with this agreement, the music platform FLO was launched. In the first half of 2018, JYP became the second largest entertainment company in South Korea when their total market capitalization surpassed YG Entertainment, largely due to the success of Twice and Got7. It was the first time that JYP had placed second among the Big 3 companies, with SM retaining the top position. On March 26, 2018, JYP debuted a new boy group called Stray Kids, named after the 2017 reality show of the same name. In May 2018, JYP became the only Korean entertainment company to rank in Financial Times magazine's "FT 1000: High-Growth Companies Asia-Pacific" list, charting at No. 177 out of all 1000 companies and No. 12 out of all 104 Korean companies. On August 30,