Yang Hyun Suk, founder and former CEO of YG Entertainment, is being taken to court. Entertainment company, multiple artists have faced allegations of drug use, prostitution, corruption, bribery, sexual assault. We want to hear from you! Trivia HIGHGRND (read as "high ground") was an independent sub-label headed by Epik High's Tablo. YG Entertainment CEO and Yang Hyun Suk’s brother Yang Min Suk has announced his decision to resign. Yang was indicted earlier this year for gambling overseas with three other associates from YG and its affiliate company YGX from 2015 to 2019. The obvious answer to that was provided today as they promoted Hwang Bo Kyung to CEO. Another netizen also expressed that his decisions to keep his stocks reflects his “desire to keep his authority in the company.” Send us a tip using our anonymous form. On June 20, the company board of directors held a meeting to appoint a CEO; they appointed Hwang Bo Kyung as the new CEO after Yang Min Suk (Yang Hyun Suk Brother) resignation. Following the resignation of Yang Min Suk, YG Entertainment welcomes their new CEO, Hwang Bo Kyung.. After the massive news of Yang Hyun Suk, the 49 year old producer and (now ex) label owner, officially stepping down from all positions in the company on June 14th was out, Yang Min Suk, his brother, also announced his resignation from the position of CEO of YG Entertainment, … In his statement, Yang Hyun Suk apologized to the YG artists and fans and announced that he will resign from his positions in order to prevent further damage on both the artists and fans. Due to recent controversies involving the Burning Sun scandal and other allegations, Yang Hyun-suk announced his plans to step down from all of his positions at YG Entertainment, and his brother Yang Min-suk announced his decision to resign as CEO of YG Entertainment on June 14, 2019. YG Entertainment has announced a new CEO and lead director following Yang Min Suk's resignation. But news reports suspect that Yang Hyun Suk hasn’t completely let go of the reigns. On June 14, Yang Hyun Suk shared his official statement regarding the recent controversies surrounding YG Entertainment. The Best Bookshelf Speakers Our Editors Are Using Right Now, Journey Frontman Arnel Pineda on the Band’s New Record, Dreams of a Steve Perry Reunion, Read These ‘Bridgerton’ Books While Waiting for Season 2 to Stream on Netflix, Inside ‘The Show,’ Blackpink’s First-Ever Livestream Concert, Yes, You Can Get a Canon Digital Camera Right Now for Just $229, Jimmy Fallon Went to a Hardware Store. In 2014 he was able to secure contracts for a number of South Korea's largest actors including Cha Seung-won. Yang Hyun-suk, the co-founder and head of the giant K-pop label, agency and production company, YG Entertainment, has resigned amid a series of scandals, Variety reports.. “I’ve dedicated the past 23 years of my life to YG Entertainment. The endorser for the game will be YG Entertainment’s BIGBANG. South Korean business executive who is widely recognized for having co-founded the entertainment giant YG Entertainment with his older brother Yang Hyun-suk. His brother Yang Min-suk, the agency’s chief executive, also stepped down, according to a regulatory filing. “For the past 23 years have I devoted half of my entire life to grow YG [Entertainment],” Yang said in a statement. Hwang Bo Kyung has been working for YG since 2001; she was serving as the executive director and CFO. He oversaw the release of Psy's viral "Gangnam Style" music video. Founder and former chief of YG Entertainment Yang Hyun-suk was fined 15 million won ($13,587) for gambling overseas, the Seoul Western District Court said on Friday. On March 22, the 21st annual shareholder’s meeting for YG Entertainment took place. YG Entertainment has finally unveiled their new CEO! Sign up for our newsletter. YG being stabilized as soon as possible is what I am hoping from the bottom of my heart. Recently, Yang has been accused of trying to cover up allegations that B.I., the lead singer of YG outfit iKON, used illegal drugs. Yang Hyun Suk has dedicated 23 years of his life to YG Entertainment. Furthermore, 'Kuki News' claimed that YG Entertainment's head producer Yang Hyun Suk holds 70% of the shares of stock investment company 'A', the legal owner of … Yang Hyun-suk, the co-founder and head of the giant K-pop label, agency and production company, YG Entertainment, has resigned amid a series of scandals, Variety reports. The fallout from the Burning Sun scandal has caused YG’s stock to plummet, while Seungri was ultimately forced into retirement for his role. Now Thad Cockrell’s Playing ‘The Tonight Show’, Big Thief’s Adrianne Lenker Performs Sublime ‘Anything’ on ‘Colbert’, Watch a Jawa Play ‘Eruption’ in Fan-Made Tribute to Eddie Van Halen. Netizens are skeptical of the notion that Yang Hyun Suk has left his business administration. [BREAKING] YG Entertainment president and founder Yang Hyun Suk was arrested by police and charged with gambling for $ 335,460 in Las Vegas. YG still remains in the hands of Yang Hyun Suk and Yang Min Suk”. After numerous scandals and police investigations, Yang Hyun Suk announced back in September 2019 that he will resign from his executive position at YG Entertainment and “let go of all works” involved with YG. Before Fame. Yang Hyun-suk, founder of Korean agency YG Entertainment, was fined 15 million won ($13,600) by a Seoul court for gambling several times in Las Vegas. Last but not least, I believe the truth beneath all the rumors and what is currently being reported will be probed thoroughly.”. In a decision on Nov. 27, Judge Park Soo-hyun of the Seoul Western District Court imposed the fine on Yang. Yang Hyun-suk has resigned from the company he helped found over 20 years ago. According to the year-end reports, Yang Hyun Suk is still the major stockholder of the … His brother Yang Min-suk, the firm’s chief executive, has also resigned. Yang Hyun Suk đã ghé thăm sòng bạc vào tháng 10 năm 2017 và tháng 2 năm 2018. Authorities in South Korea are reportedly also investigating claims that Yang provided prostitutes to potential investors. YG itself is also under investigation for tax evasion, while it’s believed the company fostered a corrupt relationship with local police, who knew about illegal activity but weren’t actively investigating it. YG’s top shareholder, Yang, founded the K-pop management firm in 1996. Following YG’s brother, Yang Min Suk, stepping down from his position of YG Entertainment CEO, it was worth watching who they appointed to take over to see if anything was going to change or not. “But today I am leaving all my duties at YG. © FamousBirthdays.com - use subject to the information collection practices disclosed in our Privacy Policy. Founded in 1996, YG Entertainment has been home to some of the biggest K-pop acts of the past few decades including Psy, Big Bang, 2NE1 and Blackpink. Continue reading Yang Hyun-suk, the head and co-founder of K-pop giant YG Entertainment, has resigned as the label remains engulfed in sex and drug scandals. Announced in March 2015, the label was set up by Yang Hyun-suk under the YG Entertainment umbrella as part of a long-term goal to reach out to the Korean indie and alternative scene. Min-Suk Yang is Executive Director at YG Entertainment Inc. See Min-Suk Yang's compensation, career history, education, & memberships. He entered the entertainment industry in 1997 at his brothers insistence. He is the younger brother of Yang Hyun-suk. He entered the entertainment industry in 1997 at his brothers insistence. © Copyright 2021 Rolling Stone, LLC, a subsidiary of Penske Business Media, LLC. YG Entertainment is among the top K-Pop record labels but its shares have more than … Theo báo cáo trước đó, cựu CEO YG Entertainment được cho là đã đặt cược hơn 1 tỷ won (20 tỷ đồng) và mất khoảng 600 triệu won (khoảng 12 tỷ đồng) trong 11 lần. The other big artist involved was singer Jung Joon-young, who also retired after admitting he filmed women without their consent and shared the footage with others. After news of iKON leader BI's involvement in a 2016 drug case broke this week, things have not gone very well for the South Korean entertainment agency By Vidisha Joshi Published on : 04:00 PST, Jun 14, 2019. With the company he is known for having to help launch the careers of groups such as Big Bang. Yang Min Suk melepaskan jabatannya sebagai direktur umum pada 14 Juni 2019, tak lama setelah Yang Hyun Suk mengundurkan diri dari semua jabatan di YG Entertainment. South Korean business executive who is widely recognized for having co-founded the entertainment giant YG Entertainment with his older brother Yang Hyun-suk. After a series of scandals involving himself and his management artists, especially recent drug case involving B.I of iKON, Yang Hyun Suk and YG Entertainment CEO, his brother, Yang Min Suk, stepped down from the company on June 14 th, 2019. YG Entertainment‘s Yang Hyun Suk has released an official statement, announcing that he will be stepping down from all positions at the agency. Yang Hyun-suk announced Friday he had stepped down from all posts he holds at YG Entertainment. On June 21, 2015, Tablo introduced the band Hyukohvia Instagram as the label's first official artist. A representative from YG Entertainment had stated they will be collaborating with China’s biggest game publisher company for a mobile app game called ‘We Moba’. Actress Kim So Hyun decided to join Jun Ji Hyun’s Agency Lee Min Ho was criticized … Want more Rolling Stone? The company had fostered artists Millic, offonoff, Punchnello, Code Kunst, The Black Skirts, Idio… With the company he is known for having to help launch the careers of groups such as Big Bang. Personal life According to a report by Channel A on the 10th, police are tracing the source of funds that Yang Hyun Suk used for his gambling. Yang Hyun Suk resigns from YG Entertainment AKP STAFF Yang Hyun Suk has officially resigned from the head producer and all other positions at YG Entertainment . His brother Yang Min-suk, who was serving as chief executive officer of YG Entertainment, also quit. Earlier this year, however, the company was rocked when police in Seoul, South Korea charged Big Bang’s Seungri with operating a prostitution ring at a popular nightclub called Burning Sun, where he was also on staff as a publicity director. YG Entertainment CEO Yang Min Suk resigns soon after K-pop star Yang Hyun Suk steps down from all positions in company. 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