A woman has been appointed as new CEO at the beleaguered Korean agency YG Entertainment.
Hwang Bo Kyung, 49, has replaced Yang Min-suk, who resigned from the position on June 14 after his brother, Yang Hyun-suk, who founded the company in 1996, decided to step down following the controversy involving iKON’s leader B.I.
In a company filing on June 20, YG Entertainment said Hwang Bo Kyung entered the company in March 2001 as managing director. She now owns 4,000 shares of stock of YG Entertainment, representing 0.02 percent of total company stocks.
Yang Min-suk announced on June 14 that “I decided to resign as the CEO of YG Entertainment, which I have been holding for a long time.”
Last June 12, a Korean news site published a report about alleged transaction chats between B.I and a drug dealer in 2016. The report alleged that B.I tried to buy LSD (lysergic acid diethylamide), a hallucinogen from the dealer.
On the same day, B.I posted on Instagram to announce that he decided to leave iKON because of the controversy.
“I humbly repent of my wrongdoing and seek to leave the team. I bow deeply to fans and other (iKON) members in sincere apology. I did in fact want to rely on a thing that I shouldn’t even have had interest in, because I was once in such pain and agony. But I couldn’t even use them because I was terrified and afraid,” he wrote, according to Yonhap News.
The dealer admitted to the police on Aug. 22, 2016 that the chats were true and that she delivered 10 pieces of LSD to B.I outside iKON’s dorm on May 3, 2016. But she took back her statement during a third investigation on Aug. 30, 2016.
Global fans have signed an online petition supporting B.I, saying, “iKONICS and fans don’t want Hanbin to leave iKON when he did nothing wrong. He doesn’t deserve to.” The petition has garnered 800,000 signatures as of writing.