K-pop singer-rapper Psy ends contract with YG
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SEOUL, May 15 (Yonhap) -- K-pop singer-rapper Psy has parted ways with his agency of eight years, YG Entertainment said Tuesday.
"We have decided, through a deep conversation, to end the contract to respect Psy's thoughts on taking on new challenges," the company said in a statement.
The singer has led a successful music career with the label, which culminated in the breakout success of "Gangnam Style" in 2012.
"Our close relationship with Psy will continue forever regardless of a contract. We will support his new start," it said.
Psy is expected to found his own management firm.
South Korean singer Psy poses for a photo during a publicity event in Seoul on May 10, 2017, to unveil his eighth album featuring 10 songs, including the title track "New Face" and the first track "I Luv It." (Yonhap)