After being involved in a series of scandals ranging from violence to sexual intercourse on March 13, YG Entertainment made an official announcement that the contract with BigBang’s member Seungri is canceled.
In addition, the agency apologized to fans and the public for the names of their artists to be involved in a series of rumors of scandals. Still according to YG, this decision was made after Seungri announced that he would end his career as an artist and requested an term of exclusive contract with the company.
See below the official announcement of YG Entertainment about the cancellation of the contract with Seungri.
This is YG Entertainment.
Starting from the recent violence case at the club, Seungri has been constantly involved in a series of suspicions and controversies. We sincerely apologize for having disappointed the fans and the public.
After Seungri announced his retirement on March 12, YG decided to accept his request of terminating exclusive contract with the company.
We will deeply review the role of an artist management agency. Finally, YG together with all the staff promise to try our best to improve the company’s weak management framework.
Source: V Today Vietnam Official