Singer G-Dragon’s new company after parting ways with YG Entertainment has been reported
According to people in the entertainment industry on December 5th, G-Dragon already signed an exclusive contract with Galaxy Corporation, which operates IP (Intellectual Property) management and content production.
An entertainment industry insider said, “As far as I know, G-Dragon has reached an agreement with Galaxy on details of the exclusive contract”, adding “An official announcement will be released soon”.
Galaxy Corporation was founded on August 9th, 2019. Although their major business is developing and licensing IP, they are expanding the scope to commerce, production and management of entertainment programs such as “Physical: 100” and “Street Woman Fighter” through subsidiaries.
CEO Choi Yong-ho drew attention when he accompanied President Yoon Suk-yeol on his state visit to Saudi Arabia and Qatar as an economic delegation in October. Former MBC PD Jang Ho-ki, who directed Season 1 of “Physical: 100”, moved to Galaxy in June and is currently the CCO of Galaxy’s global content label “Studio 27”.
As such, many people expect Galaxy to expand its influence in the industry after signing with G-Dragon. It is because G-Dragon is a valuable brand that can raise competence in the contracts with existing celebrities and nurture idol groups.
G-Dragon’s exclusive contract with YG ended in June. Rumors of him moving to Warner Music Group broke out when he posted a photo on Instagram with an electronic board taken at Warner Records officer with the phrase “WELCOMES G-DRAGON”.
On the 29th of November, G-Dragon deleted the link to YG’s official website from his YouTube channel profile, announcing his official departure from YG.
When asked about the timing of the contract, Galaxy said, “We cannot give any official answer right now”, adding “It is difficult for our company to respond to such questions at this moment. We will release a notice when it is the right time.”
Source: Daum
