KMazing – Jay Park, a solo artist and former member of 2PM, is said to be launching a new K-Pop agency. Kakao Entertainment, according to a source quoted by Sports Chosun, would back and promote Park Jae Beom, the musician’s actual name, on his new endeavor.

Kakao Entertainment is publicly known to have been planning to spend a significant sum of money on the new agency. According to a spokesperson from Kakao Entertainment, Jay Park is an artist that demonstrates his skill in a variety of professions, including vocalist and producer.

“We’re talking about the structure of a commercial relationship, but no formal decisions have been taken,” a Kakao Entertainment spokesman stated.

Another music industry insider expects that Jay Park will follow in the footsteps of JYP Entertainment’s Park Jin Young, who founded the K-Pop group. By forming his own group, he is said to be able to breathe new life into the music business.


Jay Park Stepped Down from AOMG

Jay Park had already stated that he will be stepping down as CEO through an Instagram post. Jay Park expressed his thanks in the message to the people who have always believed in him and supported him.

Read the full statement here:

After a lot of thought and taking time to organize my emotions I’ve decided to step down as the CEO of AOMG and H1GHR MUSIC. I know this may be shocking to a lot of people but I will remain as an advisor for both labels and we will continue to be a family and a crew. I want to thank all the fans that have trusted in me and supported me in all my endeavors and I hope you guys continue to support Aomg, H1ghr Music, and I and all the things we do for many years to come. As for all the Artists and employees at AOMG and H1ghr music, I want to sincerely thank you guys for entrusting your futures at these two labels that i’ve founded and it’s really an honor to build this together and to continue to make history side by side. I don’t take it for granted for one second and it will always be near and dear to my heart. I’m not perfect but I’ve always tried my best and I will continue to try my best. I love you all. Thank you and Happy new year.” – Jay Park

Despite this, he did not go into depth about why he resigned from the two brands’ CEO posts. Since 2013, he has been AOMG’s CEO. Then, in 2017, Jay Park and Cha Cha Malone created the label H1GHR MUSIC.

After announcing his resignation as CEO of AOMG and H1GHR MUSIC, rapper Jay Park deactivated his Instagram account @jayparkitrighthere. Fans speculated that he will leave the entertainment business after his Instagram account was deleted.

Jay Park had time to post on Twitter before deactivating his account, confirming the fans’ suspicions. “If I retire or disappear, make sure you guys miss me,” he tweeted.