Pop singer Psy on Thursday established PSYG, a label affiliated to his agency YG Entertainment.

The sub-label, which houses only Psy as of now, earned its business license in June, according to a source from YG Entertainment.

Psy will supervise the music production of artists under the label, while YG Entertainment will provide management.

(Read also: Formal lines in ‘W’ biggest challenge for Lee Jong-suk)

Psy, who achieved worldwide stardom with his hit song “Gangnam Style,” has long envisioned the establishment of his own label.

“(Founding my own record label) is part of an agreement YG Entertainment chief Yang Hyun-suk and I made when I joined YG” he said in an 2012 interview, referring to a five-year contract he made with the agency in 2010.

During the 2012 interview, Psy said he had planned to found a label the following year.

PSYG will mark the third sub-label under YG Entertainment, following High Ground, a hip-hop label supervised by Tablo of Epik High, and The Black run by producer Teddy.

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