6:18 pm - 06/14/2019

Yang Hyun Suk’s brother Yang Min Suk resigns as YG CEO

YG Entertainment CEO and Yang Hyung Suk’s brother Yang Min Suk has announced his decision to resign.

On June 14, the CEO shared the news with the company’s internal staff through an official letter.

The statement reads as follows:

To YG Family:

To all those who have all been putting in effort in this recent environment, I would like to express my apologies as well as my thanks.

I am deeply ashamed of myself [when I think of] everyone feeling uneasy and worried due to all of the continuous and provocative issues that have been happening from the beginning of the year.

Yang Hyun Suk and I have immersed ourselves in music activities and management, and have silently endured all of the speculations because we believe that the truth will surely come to light. However, as I’ve watched different situations continuously give the celebrities, who are unrelated to the recent issues, in our agency a hard time, I’ve realized that it is hard to overcome by just enduring.

In order for [the company] to solve these current difficulties, grow, and prepare for a new breakthrough, I believe a big change is needed. And in order for there to be no misunderstandings regarding Yang Hyun Suk’s decision to step down, I think there needs to be a clarification on my part. After careful consideration in the midst of these situations, I have decided to resign from my long-held position of CEO at YG Entertainment.

A while ago, during the commemoration for the 23rd anniversary of establishing [YG Entertainment], I shared with you that above all, we ourselves must first change in order to overcome the current difficulties. I sincerely hope that my decision will be the start of a big, new, and positive change for YG.

Thank you.


Source: Naver via Soompi
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goshipgurl 14th-Jun-2019 10:53 am (UTC)
Who is running the company now?
timetobegin 14th-Jun-2019 10:59 am (UTC)
And stay gone
goldenrosalie 14th-Jun-2019 11:00 am (UTC)
okay well now this is interesting. i'm almost tempted get my hopes up but till family shares go away i'm still seeing this as image rehab and meaningless motions while keeping 100% profit (and less accountability if the company is involved and whoever steps in will be reaping whatever these brothers continue to saw). i hope i will be proven wrong so let's throw both of them in jail!
goshipgurl 14th-Jun-2019 11:20 am (UTC)
This actually means nothing until they both sell their shares.
myrrhcat 14th-Jun-2019 11:03 am (UTC)
this is good. i hope the new ceo is at least slightly better?
i was gonna suggest we use some special tag for this scandal like "burning sons" but the tag "yg entertainment" already says it all lol
i'm certainly entertained
sayuridoll 14th-Jun-2019 11:36 am (UTC)

i truly wonder how this will effect every artist in yg

peachypearl 14th-Jun-2019 11:52 am (UTC)
Sell your shares, you dick.
dior_chic 14th-Jun-2019 11:54 am (UTC)
Omg if they sell their shares we should have a party post
the3rdjester 14th-Jun-2019 12:28 pm (UTC)
Fingers crossed for both. I'm dying to post the "evil is defeated" gif.
lil_poisonfrog 14th-Jun-2019 01:20 pm (UTC)
To think this didn't even start with Burning Sun. It started with "You fucking bitches. Yes I hugged and kissed your oppas" lmao
evilcoc0nut 14th-Jun-2019 01:53 pm (UTC)
I kinda love it since everyone was super fast to yell how she was messy and trash on every single post, but now we're here.
rainstormraider 14th-Jun-2019 01:34 pm (UTC)
I don’t want shares sold, they’ll still make money. I want them to face criminal charges and have their board invalidate their shares.

Han Seo Hee was smarter than all of them. She bided her time and then took them all down.

Edited at 2019-06-14 01:36 pm (UTC)
belintuchiha 14th-Jun-2019 02:16 pm (UTC)
She is also awful but women will always be smarter than men.
pepsi_twist9 14th-Jun-2019 01:50 pm (UTC)
Man I hope this starts an actual dismantle of YG. The fact that these investigations are happening but not directly linked to BS is wild.
dropthecrates 14th-Jun-2019 01:56 pm (UTC)
seize their SHARES
a_suitcase 14th-Jun-2019 02:29 pm (UTC)
Ohh this is giving me so much hope that these men might actually have to pay for all the shit they've done.
weneedmedicine 14th-Jun-2019 02:41 pm (UTC)
this is great news to wake up to
spread 14th-Jun-2019 02:47 pm (UTC)
I love this song!
kcaomei 14th-Jun-2019 03:13 pm (UTC)
i can't believe this is finally happening before my very eyes
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