JYP Entertainment has formally announced changes to its actor management division.

On July 24, the agency released an official statement confirming that it would be jointly managing its actor division together with the new start-up company NPIO Entertainment (stylized npio), which will be helmed by JYP Entertainment vice president Pyo Jong Rok.

JYP Entertainment’s full statement is as follows:

Hello, this is JYP Entertainment. JYP Entertainment has decided that starting from September 1, it will be jointly managing its actor division together with NPIO Entertainment. Founded by JYP vice president Pyo Jong Rok, NPIO Entertainment is a new agency specializing in the management of actors, as well as a drama/film production company. After discussions with all of the JYP actors, it has been decided that Yoon Park, Shin Eun Soo, Kang Hoon, Shin Ye Eun, Kim Dong Hee, and Lee Chan Sun will be jointly managed by NPIO for the remainder of their contract periods. All of our other actors will be ending their contracts by mutual agreement, and they will be able to freely search for new agencies. Thank you.

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