YG Entertainment to launch 'more than one' K-pop group in 2024

YG Entertainment's boy band Treasure during the band's ″Reboot″ concert in Seoul last December [YG ENTERTAINMENT]

YG Entertainment and its founder and chief producer, Yang Hyun-suk, will announce “more than one” new K-pop group in 2024, and boy band Treasure will work on new music, the agency said Tuesday.

The company's statement may reassure critics who have expressed doubts over the future of YG Entertainment after its announcement that the four members of Blackpink would not renew their individual contracts.

“We aim to officially kick off projects to find and raise trainees through auditions in Korea and abroad, aiming to announce more than one rookie group within this year,” YG Entertainment said in a news release Tuesday, sharing the agency’s plan for 2024.

Treasure will also start preparing new music after completing its second Japanese tour, “Reboot,” in March.

Babymonster, YG Entertainment’s latest girl group, will drop a new digital single, “Stuck In The Middle,” on Feb. 2 followed by its first EP on April 1.

The agency did not, however detail any plans for its quartet Blackpink.

Yang will continue to lead the agency and its artists, YG added. Yang recently purchased 10 billion won ($7.48 million) worth of the agency’s stock.

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BY CHO YONG-JUN [cho.yongjun1@joongang.co.kr]