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YG Entertainment shuts down acting management business; to end contracts with Lee Sung Kyung, Lee Soo Hyuk and others
YG Entertainment decided to go back to being a music-focused label, by parting ways with all its actors. Here's the reason.
YG Entertainment is making subsequent changes to its working structure to focus on its priority, which is music. The South Korean artist management agency announced on January 17 KST that they will end all their actor management contracts and concentrate on just singers.
The label parted ways with its full roster of actors, which include Kim Hee Ae, Cha Seung Won, Jang Hyun Sung, Yoo In Na, Jung Hye Young, Yoo Seung Ho, Lee Sung Kyung, Jang Ki Yong, Lee Soo Hyuk, Kyung Soo Jin, Han Seungyeon, Son Na-Eun, Gal So Won, Park So Yi, and more.
YG Entertainment thanked the actors for the time they had been with the entertainment agency with an official statement saying, "We would like to sincerely thank the actors and actresses who worked with us throughout the years, as well as the fans, for their love and support." They also mentioned taking care of their artists and wrote, "We will be sure to provide our artists with the support that they need until the end."
YGE was initially just a musician management company. It came into business in March 1996 with training and launching of local music producers and dancers. Founded by former K-pop idol Yang Hyun Suk, the label produced many successful artists, including BIGBANG, 2NE1, WINNER, iKON, AKMU, BLACKPINK, and TREASURE. YG then wanted to expand to other sectors and started taking in actors in 2014 by acquiring T Entertainment's actors and staff. They also took in models by acquiring the modeling agency KPlus.
However, they are currently planning to restructure and move back to being just a music-focused label. In recent times, YG has been streamlining its operations by cutting less successful ventures and focusing on its main business. Last year, they brought YGX under their Global Training Center, utilizing its expertise to boost their music operations. They are internalizing the musician training center YGX and expanding its in-house production team from 10 to 50.
The reason for YG's decision to change its way of working is believed to be BLACKPINK's upcoming 2025 comeback, followed by a world tour. They are also reported to be busy with the packed schedules of BABYMONSTER, TREASURE and 2NE1.
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