3 years after founder Yang Hyun Suk resigned due to drug and sex scandals, the identity of YG’s new president creates a stir
Who will be the successor to the YG empire founded by Yang Hyun Suk?
On March 2, as reported by Korean media, former YG CEO Yang Min Suk will be appointed as the president of YG Entertainment and YG Plus. Yang Min Suk is the younger brother of Yang Hyun Suk, YG’s founder and CEO since 2001, who stepped down from all his positions in June 2019 after being involved in breaking scandals of BIGBANG’s Seungri and iKON’s B.I.
Back in 2019, Yang Hyun Suk came under heavy criticism due to the controversies of not only YG artists but also himself, from G-Dragon being accused of receiving special treatment in the army, T.O.P and B.I’s illegal drug use, to Seungri’s prostitution, embezzlement, gambling charges… Yang Hyun Suk imself was also investigated by the police for allegations of prostitution brokerage, embezzlement of club funds and tax evasion.
Nearly 3 years after Yang Hyun Suk’s resignation, the new boss of BLACKPINK, BIGBANG, WINNER, iKON, TREASURE… is a familiar face. Although in 2019, both Yang Hyun Suk and Yang Min Suk stepped down as directors due to the company’s scandals, but according to insider sources, the power structure at YG Entertainment is the same.
Accordingly, former CEO Yang Hyun Suk still holds 17.31% of YG Entertainment’s shares, which is still large enough for him to make a profit and have the right to make important decisions within the company’s business. Netizens think this shows that Yang Hyun Suk’s resignation is only a formality.
