Psy’s agency in talks to sell to overseas investors

The label and artist management agency behind Korean pop sensation Psy is in discussions to sell a share stake to overseas investors.

According to Variety, YG Entertainment is currently listed on the Korean Stock Exchange and is in talks with L Capital Asia, the private equity arm of high-quality goods group LVMH, over an alleged AU$173 billion investment injection.

Moet Hennessy Louis Vuitton SA is a French multinational luxury goods conglomerate that controls over 60 subsidiaries that manage brands such as Dior, Fendi, Marc Jacobs and Louis Vuitton.

While YG was founded in 1996 by Yang Hyun-suk, a member of pop group Seo Taiji and Boys, in 2012 it became one of the ‘big three’ South Korean record companies alongside SM Entertainment and JYP Entertainment with the release of Psy’s global #1 Gangnam Style.

YG also represents top-selling K-pop artists like 2NE1, BigBang (whose member G-Dragon is an acclaimed artist in his own right) and Epik High.