9:57 am - 06/14/2019

Ding Dong the Witch Is Dead: Yang Hyun Suk to Step Down From YG Entertainment





On June 14, Yang Hyun Suk shared his official statement regarding the recent controversies surrounding YG Entertainment. While denying the allegations, he announced his plans to step down from his position at YG Entertainment.

The founder of the agency said, “I am so sorry to the fans who love YG and our agency celebrities. I am also sincerely apologetic to all of our employees who are silently continuing to do their work throughout the downpour of criticism.”

He continued, “I have been patiently tolerating words about the current situation that are too disgraceful and humiliating to mention as they have been told indiscriminately as though they are the truth. However, I think it’s too difficult now. I think that there can no longer be a situation where YG, our agency celebrities, and fans are experiencing harm due to me.”

Yang Hyun Suk concluded, “For 23 years, I have dedicated half my life and everything to growing YG. However, I will step down from all of my positions and work at YG starting today. I sincerely hope that there is no further harm to the YG agency celebrities I love, and to the fans who love them, because of me.”

Read his full statement below:

This is Yang Hyun Suk.

I am so sorry to the fans who love YG and our agency celebrities.

I am also sincerely apologetic to all of our employees who are silently continuing to do their work throughout the downpour of criticism.

I have been patiently tolerating words about the current situation that are too disgraceful and humiliating to mention as they have been told indiscriminately as though they are the truth. However, I think it’s too difficult now.

I think that there can no longer be a situation where YG, our agency celebrities, and fans are experiencing harm due to me.

For 23 years, I have dedicated half my life and everything to growing YG.

The work of supporting the best music and the best artists was the greatest happiness for me. I have thought that this is the only ability I can contribute to fans and society.

However, I will step down from all of my positions and work at YG starting today.

I sincerely hope that there is no further harm to the YG agency celebrities I love, and to the fans who love them, because of me.

Currently, there are many experts at YG who have more capabilities and sense than me. I think that my stepping down will be a good opportunity for them to exhibit their abilities better. It is my sincere wish that YG can stabilize as soon as possible.

Lastly, I believe that the truth of the current media reports and malicious gossip will be revealed through investigations. Thank you.


Source: Soompi 1 2, Naver
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scionofawhisper 14th-Jun-2019 08:04 am (UTC)
Sell your shares of YG boi, and then go to jail.
lil_poisonfrog 14th-Jun-2019 08:05 am (UTC)
I can't be happy about this when his brother is still running the company. Let's not pretend like YHS won't be whispering in his ear even if he leaves the public eye. Someone like him doesn't give up control this easily
dallinferno 14th-Jun-2019 08:06 am (UTC)
Yeahhhhhh sadly his brother is still there. Maybe I'm too much of an optimist but I hope this is the beginning of their downfall and that his brother will eventually resign as well :/
yoonjeonghan 14th-Jun-2019 08:05 am (UTC)
oh shit! amazing
goldenrosalie 14th-Jun-2019 08:08 am (UTC)
i mean that's pretty funny and ngl i cackled but this doesn't even change anything. he wasn't even CEO to begin with and yet he made every single choice regarding the company and their idols. so he is out of company on paper, his brother is still in charge and he will keep profiting for all of the crimes this company will keep committing.
but yeah i guess this will help to clean up the image of the company a bit and fans will keep giving them money while pretending that now it doesn't have any impact and isn't an investment in all of the current and future crimes!
scionofawhisper 14th-Jun-2019 08:13 am (UTC)
Yeah lol, he was CEO in everything but name it seemed like.
scleroticdentin 14th-Jun-2019 08:09 am (UTC)
I cant believe this is true! My day is already better. My 2ne1 girlies had their revenge i guess. But him leaving is not enough. His brother and all the shady buisness they have together should be investigated. I am hoping burning sun will be their end and all the victims can find some kind of justice.
adenar 14th-Jun-2019 08:12 am (UTC)
So,afaik, he's still one of the biggest shareholders and with his brother being in charge, I don't feel like he's really gone.

Nonetheless.

rainstormraider 14th-Jun-2019 08:20 am (UTC)
I'm hoping for two things:

1 - The stock price freefall triggers another no-confidence vote for their board and their CEO.

2 - YHS and his brother being indicted and the criminal charges being enough to invalidate their stocks due to whatever morality clause is built into their contracts so that they lose YGE.

Until then, this is a hollow gesture and none of us are stupid enough to be placated by it.

dallinferno 14th-Jun-2019 08:24 am (UTC)
As we say in my country - from your mouth to God's ears.
spread 14th-Jun-2019 08:28 am (UTC)
I love this song!
benihime99 14th-Jun-2019 08:30 am (UTC)
But when will he step in jail though?
Stepping down is barely a slap on the wrist
volume1995 14th-Jun-2019 08:33 am (UTC)
LOCK HIM UP
torontok 14th-Jun-2019 08:36 am (UTC)
Sign a petition so he can re-debut in jail
22_taken 14th-Jun-2019 08:48 am (UTC)
This day will go down in K-ent history. His decision doesn't change anything though - he still has his shares and his brother is the CEO.
greasetastic_x 14th-Jun-2019 08:51 am (UTC)
I find this so funny. I was literally telling my friend not more than 4 hours ago that he would either be ousted or he would resign because it would slightly help YGs image as a company.

If my words are becoming truths, let YG burn to the ground
apori 14th-Jun-2019 08:56 am (UTC)
This isn't enough. So many lives are already destroyed in this person/company's name.

But it's a start and I'll take it.
ironmangina 14th-Jun-2019 09:01 am (UTC)
Unless his shares in the company are dissolved and his corrupt brother steps down from CEO, then this is just lipservice as far as I'm concerned. YG hasn't been the actual CEO in years but still had the final say regarding pretty much everything. I don't see that changing, he just won't do it so publicly now.

I don't think Knetz will fall for this either.

EDIT: Not even an hour later after writing this comment and his brother steps down LOL. That's 1 of 2 additional things that needed to happen, now lets hope somehow his (YG's) position as majority shareholder is also taken down.

Edited at 2019-06-14 09:40 am (UTC)
nekokonneko 14th-Jun-2019 09:45 am (UTC)
Add a jail sentence (or at least a motherfucking fine) to that list
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