On June 4, the head of YG Entertainment Yang Hyun Suk shared two images on his social media account.
On the card, it says that SEUNGRI is the CEO of YGX―a subsidiary company of YG Entertainment.
In the caption, he wrote, "SEUNGRI, we will be a business partner. YGX will be opening this August in Hongdae. It will be home to future stars."
On that day, Yang Hyun Suk explained, "YGX will be in charge of 3 different tasks. The title and tasks at HIGHGRND, which is an independent sub-label of YG, will be transferred to YGX, and YGX will continue discovering rookies and will handle various entertainment agency tasks."
He continued, "YGX will be in charge of YG's first dance academy. YGX Academy will discover and develop aspiring individuals who dream of becoming singers or dancers who may enter YG in the future."
He added, "YGX will merge with NHR, which is a DJ label operated by SEUNGRI. YGX will target foreign markets using various methods, such as supporting DJs through collaboration with artists from YG."
Meanwhile, SEUNGRI has recently revealed the release date of his solo album as well as his upcoming concert tour date.
▶ [SBS Star] BIGBANG SEUNGRI Reveals His Comeback & Concert Tour Dates
(Lee Narin, Credit= YG Entertainment, 'fromyg' Instagram)
(SBS Star)