Yang Hyun Suk has apologized and resigned from all positions after he was revealed to have intervened in iKON B.I‘s initial drug accusations back in 2016.
I intend to step down from all positions and tasks from YG as of today. I sincerely hope that there will be no more damage caused to the YG artists and everyone who has loved them because of me.
— Yang Hyun Suk
However, news reports claim that Yang Hyun Suk will still be able to control much of what goes on in YG Entertainment despite him stepping down from any position. Even before the scandals began, Yang Hyun Suk wasn’t listed on the executive board. The CEO title went to his brother, while Yang Hyun Suk was reportedly controlling everything as “YG’s head” as the founder and head producer.
He was able to do this because he was and remains the largest shareholder of YG Entertainment. Yang Hyun Suk owns 16.12% of YG’s shares, while his brother is the second largest shareholder. The rest of the shareholders only own around 1% each.
Reports claim that unless Yang Hyun Suk lets go of his shares, he will still be able to have significant sway in the company.