PSY Starting His Own Label Soon,Trying to Attract Investment

K-pop artist PSY is reportedly starting his own label.

PSY is preparing to establish his own label and is currently working on attracting investment, relevant sources reported on December 26.

The source said, "PSY is planning various ways to establish independent company" and added an exact date of its establishment is not announced yet.

However, YG Entertainment denied PSY's rumors and said "Nothing has been decided. I believe the rumor started since PSY's preparing for various business projects in diverse fields." 
PSY signed an exclusive contract with YG Entertainment in 2010 and has been working for the company since then. Then in 2012, after releasing his mega hit 'Gangnam Style', he became a world star.

PSY renewed his contract with YG Entertainment with trust and loyalty in 2015 with no money down. Thus, many are wondering whether there has been red flag between him and the agency. 

Another relevant source reported, "PSY made a great achievement in YG Entertainment. But now PSY wants to go back to basics and try diverse new things." 
PSY made a debut in 2001 with his song 'BIRD' and gained a foothold in the music industry with his hit songs which include 'Champion', 'Entertainer', and 'Paradise'.

(Credit= 'YG Entertainment' Official Website, 'officialpsy' Facebook)

(SBS Star)