YG Releases Official Statement, Terminates Contract With SeungRi

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In light of the scandal that has been going on with SeungRi, YG Entertainment had released an official statement on Mar. 13, regarding the incident.

The statement begins with the agency apologizing to those how have been affected by the incident. Just like how SeungRi had announced his retirement from the entertainment industry, they have decided to acknowledge the termination of SeungRi’s contract with the agency.

The agency also apologize for being unable to manage their artists to the best of their ability. Ending the statement, they also promise to work together with their executives and employees to become a better company.

It was reported that on Mar. 14, SeungRi will be heading to the police station for further investigation.