YG Entertainment has made their first statement to the press following Seungri's Instagram post where he announced that he has officially decided to leave the entertainment industry.

"We have belatedly confirmed that Seungri has released a message to the public about retirement. It was something that he uploaded himself without consulting YG Entertainment first," they commented. "Currently, we have no additional comment we want to add in regards to this. It has still yet to be decided whether or not his contract will be terminated. We will let you know once the situation is figured out."

Meanwhile, Seungri is currently under investigation for possibly acting as an agent for prostitution.

Stay tuned for more news regarding Seungri's YG activities.