By Park Ji-won

YG Entertainment, a management agency representing Psy and other top K-pop groups, is reportedly getting a 100 billion won ($97.3 million) investment from LVMH Group.

L Capital Asia, a private equity fund unit of LVMH Group famous for its luxury brands such as Louis Vuitton, is in talks with YG Entertainment over details of the investment, reports said Wednesday.

YG Entertainment officials were unavailable for comment.

The Korea Exchange required the company to file a public notification to clarify the situation.

YG Entertainment solidified its position as the nation's leading entertainment company in 2012 when its contracted entertainer Psy made a huge splash worldwide with his mega-hit "Gangnam Style."

It has sought to expand its businesses to diverse fields since then.

In May 2013, it founded Next Interactive K, a content distributer, in alliance with KT, the nation's second largest mobile telecom company, and telecommunication equipment supplier District Holdings.

It also invested 5 billion won in Redrover, an animation company famous for the movie "Nut Job."

The management company founded by Yang Hyun-suk, a member of boy band group Seo Taiji and Boys, also represents top singers such as Bigbang and 2NE1.