Korean-American singer-rapper Jay Park is reportedly working on putting together his own K-pop boyband.
According to a report by Sports Chosun, Park is currently in the process of launching a new label. Industry insiders consulted by the media outlet also claimed that a new boy group will be debuting under a new label from Park.
The publication added that the musician is reportedly in talks with Kakao Entertainment for a possible business partnership. Representatives from the entertainment company have since confirmed it is in touch discussions with Park, but added that “major details have yet to be confirmed”, per SBS News.
“Jay Park is an artist who is currently active in various fields including as a singer, a music producer, and more,” a representative from Kakao Entertainment elaborated. “Kakao Entertainment is seeking to diversify its business in the music market through various partnership opportunities.”
This comes shorty after Park stepped down as the CEO of South Korean labels AOMG and H1GHR MUSIC. Notably, he had served as CEO of both AOMG and H1GHR MUSIC since he established them in 2013 and 2017 (with Cha Cha Malone), respectively.
In a now-unavailable Instagram post announcing his decision, Park explained that the choice to step down as CEO of both labels was made after “a lot of thought and taking time to organise my emotions”. The musician also noted that he will “remain as an advisor for both labels and we will continue to be a family and a crew”.
A day after this announcement, Park abruptly shut down his Instagram account, a move that fuelled rumours of his potential retirement from the entertainment industry.