The news is as shocking to you as it is for me to write. Yang Hyun Suk, who had founded his entertainment company in 1996 had resigned from his position of CEO from his own company last month.
Due to Seungri’s recent prostitution scandal surfacing to the media and Korean public, YG’s company, artists, reputation, and even their stocks have been taking a major hit.
On June 14th of this year, YG had cemented his actions after he made the shocking public announcement regarding his own personal leave. According to his statement, he no longer felt he could be involved within the company and handling their future progress due to the malicious comments, public opinion and false accusations he felt could only be flushed out after thorough investigations. Part of his statement can be read here down below.
Overall, there are a lot of mixed opinions, feelings, and viewpoints regarding YG and his announcement. Personally, the decision seems cowardly and irresponsible as YG comes across as relinquishing himself of any responsibility and imposing it upon the remaining staff members (since his brother had also announced his resignment later that day).
Now, the artists we know and love will be completely stuck in a limbo of inactivity.
Consider this indefinite hiatus a possible lead towards disbandment. Many artists, new and old, will be damaged by not only the scandal but also YG’s negligence. These artists have contracts signed with YG and may encounter trouble moving to another agency and continuing to create music if he isn’t there to approve their release from the company. New managers may simply be moving forward with the intention of how to care for artists and develop their comebacks rather than understanding concepts fluidly (matching it across the board from styling, composing, design and more) as well as how to handle their placement in or out of the company.
Aside from this, the reputation YG has left behind is a force to be reckoned with. No one can imagine the massive responsibility and the (possibly) regrettable decision to direct YG’s future. While light can be found in dark places, it seems this entertainment empire has sunk too deep into the black hole. Is this man’s trash another man’s treasure? Even if someone is able to do good by the artists and create great (or even better!) music, this doesn’t mean the publics’ viewpoints have changed. We hope someone can pick up the remains and reconstruct either what YG used to be or evolve it into a greater company. For now, like YG’s artists, we will sit and wait in the dark.
Check out the video that discusses more of YG’s press release, new-coming artists, Seungri’s scandal and more juicy insider details!