KUALA LUMPUR: Popular Korean-American rapper Jay Park is currently working on establishing a new music label after stepping down from his position of CEO for Above Ordinary Music Group (AOMG) and H1ghr Music.
According to Soompi, music industry representatives were speculating that Kakao Entertainment would be channelling a large investment into the new venture which is expected to also launch an idol group.
The 34-year-old singer-songwriter, record producer and entrepreneur first gained prominence in the K-Pop scene as the leader of popular boy band 2PM which was formed by JYP Entertainment in 2008.
Park, who founded the independent hip hop labels AOMG and H1ghr Music in 2013 and 2017 respectively, is expected to create a fresh idol group that is very different from the current ones in the mushrooming K-Pop arena.
"Just like how JYP's Park Jin Young successfully created a large number of idol groups with his colourful approach, Jay Park will be able to bring a new wave to the music industry by producing idols with his own style," said the industry representatives.
Yesterday, Kakao Entertainment responded to the reports by saying that, "Jay Park is an artiste with talent in various fields as a singer and producer.
"We are currently discussing various types of business partnerships but nothing has been specifically confirmed yet," it added.