According to various music industry insiders, Psy is even closer to setting up his very own independent label, called PSYG (pronounced P-S-Y-G). 

Psy, who's been planning to establish his label for quite some time, is finally fulfilling his dream! Reportedly, the singer completed the process of legally registering his label this past June. 

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PSYG will operate much like HIGHGRND and The Black Label, independent yet still affiliated to and a subsidiary of YG. 

Congrats to Psy, and all the best of luck; we're happy that his dream is realized!