PSY has decided not to renew his contract with YG Entertainment, a source from the agency confirms.
On May 15, the agency released a statement confirming that their exclusive contract with PSY is over and after deep conversations with PSY, they have decided to respect his wishes to go separately.
“YG and PSY have been together with special trust for the past 8 years. We provided endless support to PSY’s overflowing energy and passion for music, we all shared the excitement as ‘Gangnam Style’ gained worldwide recognition.
Regardless of the contract period, we will remain close forever. We will be cheering on PSY’s new beginnings and wish him all the happiness. We also express our deep gratitude for the fans who supports and loved PSY as a YG artist until now.”
PSY had signed an exclusive contract with the label back in 2010, he then renewed his contract again in 2014, he spent a total of 8 years at the company.
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