Yang Min-suk becomes YG’s sole CEO

▲ A photo of YG Entertainment CEO Yang Min-suk, provided by YG Entertainment. (PHOTO NOT FOR SALE) (Yonhap)

 

SEOUL, March 29 (Yonhap) -- YG Entertainment, home to girl group BLACKPINK and boy group TREASURE, is undergoing restructuring with Yang Min-suk as the sole representative director. Additionally, plans are underway to specify the future activities of BLACKPINK, the company's biggest intellectual property (IP).

 

YG announced on the 29th that it had approved the resolution to transition to a sole representative director system at its shareholders' meeting. Yang Min-suk, the new representative, is the younger brother of Yang Hyun-suk, the founder and chief producer of the company. Previously, YG was jointly led by Yang Min-suk and Hwang Bo-kyung as co-representative directors.

 

Explaining the move, YG cited the aim to enhance decision-making speed and efficiency. Yang Min-suk stated, "The decision of this board meeting will play an important role in the company's innovation and strengthening global competitiveness."

 

Alongside this change, Kim Dong-hyun was appointed as the new chairman of the board of directors. Kim Dong-hyun, an external director, is a management expert who has served as CEO of Magnatec and vice president of Uniquetest, and has been a YG external director since last year. He expressed his intention to supervise the overall management activities of the management team and establish a balanced governance system through independent board operation.

 

On the same day, YG appointed three new external directors with expertise in accounting, legal affairs, and investment.

 

Following the establishment of the shareholder return policy announced last month, YG aims to enhance trust with shareholders and investors through this management structure change, contributing to sustainable growth and long-term value creation.

 

In YG's upcoming activities, the 'large-scale rookie girl group' BABYMONSTER will release their first mini-album next month and embark on domestic and international activities. TREASURE, after successfully concluding their Japan tour, will embark on an Asia tour. AKMU, celebrating their 10th debut anniversary this year, is preparing for various projects and overseas ventures.

 

YG will also continue its efforts in scouting and nurturing new talents by holding local auditions in Japan and Thailand. YG added, "We will specify the activities of BLACKPINK, who signed a group activity contract last December."

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