YG Entertainment. Image: Courtesy of YG Entertainment via The Korea Herald
YG Entertainment will discontinue its actor management business as part of a broader restructuring to concentrate on music.
In a statement released on Friday, January 17, the agency said, “To focus on our primary business of music, we are reorganizing our business structure. As part of this process, we will discontinue our actor management operations.”
YG was once home to prominent actors such as Cha Seung-won, Choi Ji-woo, Kang Dong-won, Lee Jong-suk, and Kim Hee-ae, managing their careers and solidifying its presence in the entertainment industry.
The decision is part of a gradual restructuring effort that began last year. YG sold its stake in Studio Plex, the movie and drama production company, and in August, dissolved its dance management and academy label, YGX. The functions of YGX were transferred to YG’s in-house Global Training Center.
Earlier this year, YG hinted at its shift back to music, announcing several tour concerts, album releases, and promotions for its K-pop artists. This includes a highly anticipated comeback of Blackpink, Babymonster’s debut world tour starting in February, as well as the return of Akmu and Treasure. The agency also plans to launch a new rookie group this year.
“By enhancing the sustainability of our existing intellectual property while accelerating the discovery and development of new IPs, we aim to solidify our leadership in the music industry and record a new chapter of growth for YG,” the company stated.