Yang Hyun-suk has announced that he has stepped down from YG Entertainment, the agency he founded in 1996, amidst scandals including that of iKON’s B.I, who left his group in light of allegations related to illegal drugs.
YG Entertainment manages K-pop artists including Big Bang, iKON, BLACKPINK, Winner, Dara and CL, and under his supervision, the company grew to become one of the top three entertainment agencies in South Korea.
In a statement posted on the YG website, Yang Hyun-suk wrote, “I am so sorry for fans who love YG and its entertainers. I sincerely apologize to all our employees who have been working silently amidst these criticisms.”
“In the last 23 years and half of my life, I have devoted everything to grow YG. I’m going to step down from all my positions and duties at YG today. I sincerely hope that there will be no more damage to the entertainers of YG that I love and all fans who love them because of me,” he declared.
He said he has endured through patience the current situation in which shameful words are being talked about like fact.
“It was my biggest happiness to support the best music and the best artists and I thought that it is the only skill that I can give to fans and society. At present, YG has many experts who are more capable than me,” he said.
Yang Hyun-suk added his withdrawal will be a good opportunity for them to excel more and wished that YG can stabilize as soon as possible.
He believes the truth about the present media reports will be revealed in future investigations.