YG Entertainment (YG) has announced its position regarding news that Psy is preparing to leave the agency.
“Nothing has been decided yet,” said a company official on December 27. “Because Psy conducts business in different fields, it is likely that this has caused the rumors,” they said.
Yesterday, information emerged from insiders that reported that Psy was preparing to exit the agency once his contract ended in late 2018. According to the reports, Psy plans to create his own agency. As such, he is reportedly working on attracting investments from large companies. This particular tidbit of information is likely the source of the rumors — if they are rumors as YG claims.
Psy signed an exclusive contract with YG in 2010. Later, in 2015 the singer signed a short-term contract that will conclude in late 2018 unless he decided to renew his contract.
Psy is a hip-hop leaning singer who debuted in 2001 with Psy from the Psycho World! However, it wasn’t until 2012 when the funky “Gangnam Style” came out that Psy achieved global recognition.
Translated by O.C