Psy Exits YG Entertainment After 8 Years
Eight years after signing with YG Entertainment, Psy is leaving the label that saw him through the success of breakthrough megahit “Gangnam Style” and follow-up tracks like “Gentleman” and “Hangover.”
Psy (Park Jae-sang) first joined the agency, which also houses several popular South Korean acts including BigBang, CL and BlackPink, in 2010. In 2012, the rapper-songwriter rose to international fame with the success of “Gangnam Style,” the lead track from his second album on the label, Psy 6 (Six Rules), Pt. 1.
"Gangnam Style" is the highest-ranking Korean song ever on the Billboard Hot 100 chart, peaking at No. 2 on Oct. 6, 2012.
The artist’s final album under the label was last year’s 4X2=8, fronted by the singles "I Luv It," "New Face" and "Love," featuring Taeyang of BigBang.
In a statement to South Korean media, YG Entertainment reportedly said that the “close relationship" between the label and Psy will “continue forever regardless of a contract.” The company also expressed support of the 40-year-old's future career moves.
Yonhap reported that it is expected Psy will start his own management firm.
YG Entertainment is one of South Korea's "Big 3" entertainment firms. As of January, it is currently ranked third, behind SM Entertainment and JYP Entertainment.