K-pop singer and multi-entertainer Psy announced he will set up an independent record label.

“I have always dreamed of establishing my own agency and following in the footsteps of S.M., YG and JYP Entertainment,” he told reporters on Monday.

He said his record label would be characterized as an affiliate of his agency YG Entertainment. He said he will be in charge of music production and his agency will be doing other responsibilities.

“I am not leaving YG Entertainment,” he said. 

Under the management of YG Entertainment, Psy released his sixth regular album on Sunday and topped major music charts with the main track titled “Gangnam Style.”

Psy said he has been managing his company since 2002 when his song “Champion” became a hit. But after joining military service in 2007, he lost the chance to make the company grow, he said.

“But I still have that dream,” he noted.

“What I felt during my military service is that I needed a guardian. I’ve had my personal guardians ― singer Kim Jang-hoon for stage performance and Yang Hyun-seok of YG Entertainment for my music,” he added.

He said he will work on establishing the new record label next year and added his new label will be different from YG’s music style.

Psy is expected to release a debut album in Japan this September, which will include the main track “Roppongi Style,” the Japanese version of his new song “Gangnam Style.”

By Lee Woo-young (wylee@heraldcorp.com)