Psy Creates His Own Independent Label ‘PSYG’ Under YG Entertainment

South Korean rapper Psy finally fulfilled his dream to have his own music label "PSYG' under YG Entertainment.

The 38 year old record breaker said that having his own label is a dream come true. He said "even when I entered YG, it was an unspoken promise with Yang Hyun Suk." PSYG is a combination of the artist's name and YG, Soompi explained.

This is not the first time the management agency allowed their artist to have an independent label. Recently, Tablo of Epik High also established HGHGRND which currently holds pop sensation Lee Hi's new album. Teddy, Kush and Zion T also founded The Black Label.

The agency owned and founded by Yang Hyun Suk believes that independent labels under the company would help in tapping individual artists to work together and explore their preferences in the music industry, Korea Times reported. With Psy's unique musical style, artists under his label are expected to have exciting and lively records in the future. He said that the sublabel will help him dig into fresh and unique musical styles just like his previous hits.

YG Entertainment also announced that he already completed all necessary documents in June to proceed with the establishment of PSYC.

PSY became a global hitmaker when his phenomenal "Gangnam Style" song and choreography crossed the international music industry. It received multiple recognitions and awards including the "most viewed" YouTue video garnering a total of 2.6 billion views as of 2016. "Oppa Gangnam Style" was also included in the Yale Book of Quotations and was hailed as the most popular quotation of 2012.

The YG artist became the first Korean star to penetrate the mainstream music scene of the Westerners. His track "Gentleman" was also a hit. His latest single "Daddy" marked his most anticipated comeback in 2015.