Will G-Dragon’s Upcoming Solo Comeback End YG’s Reign?

The Korean (Hallyu) wave has captivated the world, fuelling an extraordinary surge in the popularity of South Korean popular culture since the 1990s. This remarkable cultural phenomenon has sparked a global fascination with all things Korean, spearheaded by the widespread influence of K-pop and K-dramas. Pioneering achievements such as the infectious melodies of BTS and Psy's iconic "Gangnam Style," alongside acclaimed groups like Girl's Generation, Super Junior, and BigBang, have propelled this wave to unparalleled heights. The newer and younger generation to emerge includes Blackpink, BTS, and a few others.

A Formidable Cultural Move That Impacted the World
In March 2012, former President Barack Obama's visit to Korea shed light on this remarkable phenomenon. Notably, the South Korean government had prioritised this cultural movement, aiming to establish the nation as a premier exporter of popular culture — an endeavour unparalleled in the world. By harnessing the power of soft power, a concept coined by Harvard political scientist Joseph Nye in 1990, South Korea recognised the potential to wield influence through its intangible image rather than relying solely on hard force.

Official White House photo of then- President Barack Obama and President Lee Myung-bak participating in a press conference at the Blue House in Seoul, Republic of Korea, March 25, 2012

Extraordinary Journey from a Nobody to King of K-Pop
Renowned as the undisputed King of K-pop, G-Dragon's musical journey has been nothing short of extraordinary. In 2006, he burst onto the scene as the charismatic leader of YG Entertainment's sensational boy group, BigBang. Together, they propelled to unprecedented heights, swiftly capturing the hearts of fans worldwide and establishing themselves as one of the industry's biggest and best-selling acts.

However, G-Dragon's solo career was destined to unfold, and in 2009, he unleashed his first solo endeavour, 'Heartbreaker.' This album proved to be a resounding triumph, captivating audiences and swiftly soaring to become one of South Korea's highest-selling releases that year.

In addition to his remarkable contributions as a member of BigBang and a solo artist, G-Dragon has ventured beyond the realm of music, garnering widespread recognition and acclaim in various non-musical domains. Among these, his foray into the world of fashion stands out prominently. Revered as a true style icon, G-Dragon has effortlessly transcended conventional boundaries, embracing a multitude of brand endorsements.

The pivotal milestone in G-Dragon's fashion journey unfolded in 2016 when he secured a collaboration as the face of the esteemed luxury fashion house, Chanel. This ground-breaking feat made him the first-ever male K-pop artist to be appointed as the face of Chanel. Since then, G-Dragon has graced numerous Chanel fashion shows, captivating audiences with his impeccable fashion choices and innate finesse, earning him well-deserved accolades and headlines.

Year of the Dragon is Coming
As for his activities this year, the 34-going-35 K-pop fashionista appeared at the highly anticipated 2023 Chanel Haute Couture Fashion Show late January.

G-Dragon at the 2023 Chanel Haute Couture Fashion Show

On 17 February, the South Korean artist embarked on a ground-breaking collaboration with BNB Chain and Fandom Studios, igniting the creation of the PEACEMINUSONE NFT Collection Archive 2016. At this stage, the development of the NFTs was in its nascent phase. Subsequently, on 21 March, the K-Pop sensation thrilled fans with the announcement of a forthcoming NFT collection set to launch on 22 March.

The sale of this highly anticipated collection commenced and concluded on the very same day. At the heart of the collection lies G-Dragon's meticulously crafted painting titled "Archive 2016," which embodies the essence of his iconic brand, PEACEMINUSONE, while encompassing pivotal elements from the rapper's personal and professional journey.

The NFTs within the collection manifest as small puzzle pieces, each representing a unique digital collectible. Remarkably, with an initial floor price of approximately $0.27 BNB (equivalent to around USD88), the collection consisted of 13,444 distinct NFTs. Such was the frenzy surrounding the release that all pieces were swiftly acquired within a matter of hours, resulting in a rapid closure of the sale.

At the time of writing, this collection’s floor price is valued at 0.0938BNB on OpenSea, about USD24

He also graced the cover of Harper's Bazaar's April issue, bearing the captivating title of "The Irreplaceable Man."

G-Dragon on Harper’s Bazaar April 2023 issue

In an exclusive interview featured within the pages of the magazine, G-Dragon offers insights into his plans for solo endeavours, leaving fans eager for what is to come. While not divulging specific details, he assured his dedicated following that they can anticipate his presence in a diverse range of projects in the near future. Particularly intriguing is his mention of an upcoming solo album, hinting at his excitement and sharing that the creative process is progressing remarkably.

“I wanted to tell my fans that I am working on a project that I am excited about in many ways. I can’t disclose how much exact progress has been made… But there are several projects that I am working on at once. They are progressing step by step.”

In early April, G-Dragon embarked on yet another exciting collaboration, this time with Nike, renowned for its iconic sneaker lines. The result of this partnership was not only a captivating fusion of fashion and art but also an exclusive opportunity for NFT holders. It introduced the Kwondo 'giveaway' event, where lucky NFT holders had the chance to participate and win a coveted pair of sneakers created by Nike themselves.

Then mid-June, G-Dragon went on to decorate the cover of the Elle Korea magazine’s issue released this month. When asked about his upcoming solo album which he hinted at back in April during his accompanying interview, he said, “As it’s been a long time since I’ve promoted as singer G-Dragon, I’m working [on the album] with a fun and excited heart. I think I’ll also be able to know what kind of emotions I have now once the songs are complete. I’m looking forward to it myself.”

However amidst all these, something big had been brewing and stewing for quite some time ─ whether he will renew his contract with his agency, YG Entertainment.

On 6 June, the agency announced that, “G-Dragon’s exclusive contract with us has expired but we are collaborating with him through a separate contract for his other activities such as advertisement, etc. There will be discussions regarding additional contracts if he resumes his music activities. We will spare no effort to provide support for this.”

Hence it has been officially confirmed that G-Dragon, the sole remaining member of BigBang within YG Entertainment, has bade farewell to the company after an impressive 17-year journey. This marked a significant turning point, as none of the members from BigBang, one of the most beloved second-generation K-pop groups nurtured by YG, has continued their journey under the YG banner.

Following the announcement, the company experienced a substantial decline in its stock value, amounting to a staggering USD130 million in market capitalisation.

YG Might be on the Rocks
With one of their most successful groups completely out of the picture, YG’s reign is looking a little bleak. That is especially so when reports have emerged suggesting that negotiations for the contract renewal between Blackpink’s Lisa and YG Entertainment have hit an impasse. That is despite sources citing that contract renewal negotiations between YG Entertainment and the remaining members of Blackpink Jennie, Jisoo, and Rosé have been progressing smoothly.

As Lisa's contract with YG Entertainment is set to expire in August 2023, both parties are currently engaged in discussions regarding the renewal. However, according to an exclusive report, no agreement has been reached thus far, with significant differences in demands and requirements between Lisa and YG Entertainment. In fact, sources have even hinted at the possibility that Lisa may choose not to renew her contract with YG Entertainment. The outcome of these negotiations carries immense significance, not only for Lisa's future but also for the landscape of Blackpink and the wider K-pop industry.

If negotiations fail, what would happen to Blackpink and ultimately, YG?

Comeback Imminent, Look Forward to Upcoming Solo Album
On 3 July, G-Dragon delighted fans with a series of captivating pictures on Instagram, one of which showcased his well-defined abs after a rigorous gym session. Observers have taken note of G-Dragon's improved health and vitality, marking a positive shift compared to his previous condition. Furthermore, exciting reports have emerged suggesting that G-Dragon is actively working on a new solo album slated for release later this year.

His latest update was just four days ago.

As anticipation mounts for G-Dragon's highly anticipated comeback and solo album, it begs the question: What lies ahead for both his flourishing career and the future of YG Entertainment? As the remaining BigBang members have departed from the agency, some may wonder if this heralds the end of YG's era of dominance.

However, amidst these changes, one cannot help but wonder: Will YG Entertainment adapt and innovate, paving the way for a new chapter in their reign, or will they face formidable challenges that may shake their foundation? Either way, it seems like the dragon has finally broken free and is ready to soar.