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 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."
(Credit= 'YG Entertainment' Official Website, 'officialpsy' Facebook)
(SBS Star)