History
In March 1998, Yang Hyun-suk, a former member of legendary Korean band Seo Taiji and Boys, founded YG Entertainment. The first group to debut on the label was Keep Six, with their only album Six in tha Chamber released in May the same year. Jinusean was the next artist to debut on the label and was the first to achieve mainstream success. Group 1TYM followed along with CEO Yang Hyun Suk's album release. 1TYM and Jinusean are often credited with bringing hip hop to the mainstream Korean audience. In 1999, the company's artists created a collaboration album under the name YG Family.
The label soon released albums by artists Perry, Swi.T, Wheesung, and a second YG Family collaboration in the following years. In 2003, Big Mama debuted as the first group famed for their voices as opposed to appearance. Seven debuted after, along with Lexy and Gummy. In 2005, the YG Underground label was created and grew to contain the artists 45RPM and Stony Skunk. In addition, Se7en began to go abroad to sell records in Japan in a joint effort between YG Entertainment and Nexstar Records. Big Bang debuted in 2006 and was the company's first idol group.
Big Bang skyrocketed in popularity from the time of their debut to the release of their second Korean album, Remember. 2008 was also marked by new releases from Gummy and Uhm Jung Hwa. In 2009, 2NE1 debuted and also quickly became one of the K-pop industry leaders. Big Bang branched out into Japan during this time and released their first Japanese language album, Big Bang. G-Dragon, leader of Big Bang, released his solo album in Korea and it became the highest selling album of 2009.
PSY, an already renowned rap artist, signed onto the label in 2010 and released the album Psy Five. In addition, the company applied to the stock exchange but was rejected. It is suspected that the reason was because YG Entertainment had too few music groups and an unstable cash flow, despite increasing earnings in Korea and Japan in 2009. YG Entertainment eventually passed the Stock Exchange Commission’s screening to go public on the KOSDAQ. The stock price is anticipated to be set around 24,600~28,800 WON (around $22 – $26 USD with a face value of 500 WON). Around 35 billion won (around $33 million USD) will be up for trade on the initial public offering.
On September 27, 2011, YG Entertainment announced that Tablo from the popular hip-hop group Epik High signed an exclusive 4-year contract with them. In 2012 Epik High also joined YG.
Read more about this topic: YG Entertainment
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