YG Entertainment’s CEO Yang Min-suk returned to management after about 3 years.
On July 1st, YG Entertainment announced that it would change from the system with one CEO (Hwang Bo-kyung) to the system with co-CEOs (Yang Min-suk and Hwang Bo-kyung).
It has been about 3 years since Yang Min-suk resigned as YG Entertainment’s CEO on June 20th, 2019. Yang Min-suk, the younger brother of YG Entertainment’s executive producer Yang Hyun-suk, resigned as CEO in June 2019 when YG artists were embroiled in various allegations.
After Yang Min-suk’s resignation, YG Entertainment once again laid the foundation for a leap forward. Even when offline activities were restricted due to COVID-19, BLACKPINK, BIGBANG, AKMU, iKON and WINNER continued to work hard.
In particular, YG PLUS, which operates music distribution and MD (merchandising) products, recorded its highest-ever performance with sales of 154.3 billion won and operating profit of 22.6 billion won last year. The subsidiary YG Investment also showed results of investment in metaverse.
CEO Yang’s return is meaningful in that it is the time when YG artists’ offline activities begin to resume. BLACKPINK is planning to hold a large-scale world tour in the fourth quarter after the release of their new album in the third quarter. iKON and Treasure’s Japan tours are also scheduled.
YG Entertainment shared, “Co-CEO Yang Min-suk will strive to strengthen YG Entertainment’s competitiveness by promoting artists’ stable activities and further solidifying cooperation with global partners.” They emphasized, “We are looking forward to positive synergy by focusing on YG Entertainment’s sustainable development and increasing corporate value by adding strong momentum to future new growth engines such as IP (Intellectual Property)/platform business.“
CEO Yang Min-suk said, “I will not forget our management philosophy as a company that fulfills social responsibility by completing a quick and efficient decision-making system.“