On January 17, South Korean entertainment company YG Entertainment announced that it will end its actor management business, as part of a corporate restructuring to focus on its core focus of music.
YG shared: "We sincerely thank all the actors who have accompanied us and the fans who have given them so much love. We will spare no effort to provide the necessary support until the very end."
YG explained that they had separate conversations with each actor about each person's contract situation.
With this direction, dozens of actors under YG's management will leave the company, typically Lee Soo Hyuk, Yoo In Na, Cha Seung Won, Jang Ki Yong, Kim Hee Ae, Yoo Seung Ho, Lee Sung Kyung...
In recent years, YG has gradually streamlined less profitable business areas and prepared to focus on the music business.
Last year, the company integrated YGX into its Global Training Center, internalizing its expertise and capabilities. In addition, YG expanded its in-house production team from about 10 members to more than 50, further strengthening its production system.
YG stated: “We have been continuously working on restructuring the business to focus on core activities. We are positioning 2025 as the first year that these efforts will bear fruit.
While strengthening the sustainability of existing IP (intellectual property), we will also accelerate the discovery and development of new IP. By continuously strengthening our core competencies and consolidating our leadership in the music industry, we aim to write a new chapter in YG's growth story.”
Notably, YG announced the upcoming direction of activities of music artists in the company.
Baby Monster will kick off their world tour with a concert in Seoul this January. Treasure will continue their world tour in October, after releasing their third mini album this year.
In particular, YG said that all preparations have been completed, including the establishment of a separate internal project organization for Blackpink. The group will embark on a global tour when they return this year.
