YG Entertainment announces the concretisation of BLACKPINK’s group activities under the appointment of a new board of directors

On Friday, March 29, 2024, BLACKPINK fans celebrated on social media after YG Entertainment announced a change of its committee. The agency appointed an outside director named Kim Dong-hyun as the chairman of the board of directors and said that all the artists would continue under a completely new set of personnel.

This news is being celebrated across the K-pop community, given some unfortunate events that have circled YG’s policies towards its artists. BLACKPINK fans, in particular, are excited over this news as it proves to be a ray of hope for the group's future activities.

With all four members currently working as individual artists, this news comes in as a boon for their future as a group. Fans that have not experienced any group activity from the group for the last many months, are hopeful to see them together pretty soon.

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BLACKPINK's future group activities gain a ray of hope

According to statements made by YG Entertainment during the shareholders' meeting held on March 29, Kim Dong-hyun was appointed as the new chairman of the board of directors.

Kim Dong-hyun, a management expert who has previously served as the CEO of Magnatec and the Vice President of Uniquist companies, has been an outside director of YG Entertainment since 2023. On Friday, Kim Dong-hyun said,

"Through the operation of an independent board of directors, we will oversee the overall management activities of the management and establish a balanced governance system."

In addition, three outside directors with expertise in accounting, legal affairs, and investment were newly appointed. Thus, YG Entertainment aims to ensure professional competence and diversity on the board of directors, laying the foundation for sustainable growth through a broader perspective and thorough review of important decisions.

The resolution to transition to a sole representative director system was also approved at the board meeting. As a result, YG will be reorganized under the sole representative director system led by Yang Min-suk. This is aimed at enhancing decision-making speed and efficiency. Representative Director Yang Min-suk emphasized,

"The decision of this board meeting will play an important role in the company's innovation and enhancement of global competitiveness."

Following the establishment of a shareholder return policy announced in February and the change in management structure this time, YG plans to enhance trust from shareholders and investors and contribute to sustainable growth and long-term value creation.

This year, YG Entertainment is kicking off various activities, particularly with its new girl group, BABYMONSTER. The group has been attracting global attention since its debut song release, starting with a mini-album BABYMONS7ER in April and embarking on full-fledged domestic and international activities. Naver News shared an official statement from YG Entertainment that said,

“The activities of BLACKPINK, who signed a group activity contract last December, will be concretized.”

This was delightful news for BLACKPINK fans, who haven’t seen any group activity since the completion of their "Born Pink" concert tour in September 2023. Since then, the BLACKPINK members have chosen their separate paths and ended their contracts as individual artists under the said company.

Since then, three BLACKPINK members have established their own entertainment labels: Lisa’s LLOUD, Jennie’s Oddatelier, and Jisoo’s BLISSOO. According to the recent news, the new committee will look into the group activities of BLACKPINK, which has excited fans.

In addition, preparations are underway for various projects and AKMU's overseas market entry, which celebrates its 10th debut anniversary. Furthermore, there are plans to continue discovering and nurturing global rookies through local auditions in Japan and Thailand.