YG Entertainment Will Now Prohibit Their Artists From Owning Businesses
After being hit with a massive scandal through former BIGBANG member SeungRi, who is currently being investigated for solicitation of prostitutes, police collusion, and tax evasion, YG Entertainment’s first measure in ensuring something similar never happens again seems to be imposing regulations on their artists who owns or may in the future own businesses.
In the past, it was difficult for the agency to directly manage an artist’s business because it was a private matter for the artist and the agency did not have much influence in how things were run.
But given how the recent scandal has negatively affected YG Entertainment, it seems that the agency itself can now no longer afford nor tolerate any more legal troubles as their reputation and stock prices are at an all time low.
YG producer Yang HyunSuk’s past statement saying how the agency has no relevance or connections to their artists’ business no longer holds up to be true in this case.
Specific details on whether artists are prohibited completely from owning businesses or regulated have not yet been revealed.
Stay tuned for updates!