After months of speculation, JYP Entertainment has announced they will be closing their acting division and some of their actors will be moving on to a new company.
The new company they are moving to will be a start-up company that has been created by JYP Entertainment’s Vice President Pyo Jong Rok called npio Entertainment.
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JYP Entertainment has decided it will be joint managing its actor division together with NPIO Entertainment starting September 1
Founded by JYP vice president Pyo Jong Rok, npio Entertainment is a new agency specializing in the management of actors and is also a drama and film production company.
After discussions with all of the JYP Entertainment actors, it has been decided that Yoon Park, Shin Eun Soo, Kang Hoon, Shin Ye Eun, Kim Dong Hee, and Lee Chan Sun will join npio Entertainment for the remainder of their contract periods.
All of our other actors will be ending their contracts after mutual agreement, and they are able to freely search for their new agency.
— JYP Entertainment
With their announcement, JYP Entertainment has revealed that their popular actors such as Jang Hee Ryung, Park Si Eun, and Ryu Won will not be staying onboard with the new jointly managed label.