SEOUL, Korea (CelebrityAccess) Yang Hyun-suk, co-founder and head of the YG Entertainment talent agency in South Korea, recently resigned as the company becomes embroiled in more scandals involving the shadier side of the clean-cut image of K-pop.
The scandals range from drugs to prostitution and were sparked by YG client Seungri of boy band Bigbang. Seungri was recently accused of attempting to provide prostitutes to his business partners. Recent allegations involve B.I., lead songwriter of boy band iKON who quit the band after allegations he had used illegal drugs. Korean phenom Psy was questioned regarding it by police but it was not clear if he was a suspect or a witness, according to Variety.
Hwan Bo-kyung was appointed the new CEO of YG last Thursday, replacing Yang Hyun-suk’s brother, who also resigned, the trade mag reported.
“For the past 23 years have I devoted half of my entire life to grow YG (Entertainment). (…) But today I am leaving all my duties at YG,” Yang said in the statement. “YG being stabilized as soon as possible is what I am hoping from the bottom of my heart. Last but not least, I believe the truth beneath all the rumors and what is currently being reported will be probed thoroughly.”
It has been alleged that YG has a corrupt relationship with police who were slow to investigate the allegations. Yang is also accused of providing prostitutes to potential foreign investors, namely that he arranged a trip to Europe for investors and 10 prostitutes, according to MBC’s Straight. The company is also under investigation by Korean tax authorities.
YG is one of the top three K-pop agencies along with SM Entertainment and JYP Entertainment, according to Variety, and has produced acts like Psy, Bigbang, 2NE1 and Black Pink.