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YG Entertainment is one of the largest music companies in the K-pop industry, one of the institutions considered to be part of the Big Three labels groups in South Korea ( which also includes SM Entertainment and JYP Entertainment). Today, it was announced that the founder, Yang Hyun-suk, and his brother, the CEO, Yang Min-suk, had resigned from the company after sustained accusations that the company would be involved in scandals related to drugs involving artists on their list. Display panel reports.
"I spent the last 23 years of my life at YG Entertainment. It was my greatest joy to support the best music and the best artists, "wrote Yang Hyun-suk in a statement posted on YG Entertainment's website earlier in the day. "As of today, however, I decided to give up my responsibilities and my position at YG."
Founded in 1996, YG has served as a label for many K-pop bands including Big Bang, Psy and, recently, BLACKPINK. The company was investigated earlier this year after the "Burning Sun" scandal, in which it was reported that the drug and sexual abuse had occurred at the Burning Sun nightclub, which belongs to the member of Big Bang Seungri. On Tuesday, June 11, a whistleblower filed a report with the South Korean Commission for Combating Corruption and Civil Rights alleging alleged collusion of the label to conceal a drug offense committed by another artist. the rapper and singer-songwriter BI from Korea Herald reports. This development led to the resignation of Yang Hyun-suk earlier in the day.
A member of the seminal K-pop group Seo Taiji & Boys in the 1990s, Yang became a household name in Korea thanks to YG and her tenure as a judge in various South Korean singing competitions in the 2010s. ending his statement of resignation, Yang wrote, "Finally, through a thorough investigation of media reports and facts, I believe the truth will be discovered."
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