Korean hip-hop label Illionaire Records has officially closed after 10 years of its business.
On July 6, Illionaire Records updated the label's official Twitter with an announcement.
Illionaire Records wrote, "Illionaire Records has completed our long 10-year journey, and our artists will each be beginning their own respective journeys."
The label continued, "Thank you for your continuous support throughout the years, and we aske for your support for the artists as they set out on their new paths."
Illionaire Records was established in 2011 by two hip-hop artists Dok2 and The Quiett.
Other artists under the label included Beenzino, and rappers Changmo, Hash Swan, and Keem Hyoeun were under Illionaire Records' sub-label Ambition Musik.
The decision to close operations followed after Dok2 left the label earlier this year, in order to focus on his career in the United States.
Then on July 2, Beenzino revealed that he was also considering parting ways with Illionaire Records, in order to find a new environment in which he could grow further as a musician.
During his live broadcast, Beenzino explained, "I think it's time for me to find new music partners. I've stayed in a comfortable place for too long."
(Credit= Illionaire Records)
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