1llionaire Records announces disbandment after 10 years

Source: 10Asia via Naver

1llionaire Records, an active hip-hop label has dissolved after 10 years. 

On the 6th, an official statement was posted on the agency's Instagram that reads, "1llionaire Records has concluded its long journey after a decade and artists are about to take on new challenges in their respective positions. I sincerely thank you for your support and love, and I ask for your support for the artists' new start. Thank you again."

The label was co-founded by Dok2 and The Quiett in January 2011 and among its active artists were Beenzino, Changmo, and Hash Swan. 

Dok2 left the agency in February and the label announced its official dissolution in July. 

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- 일리네어 레코즈는 지난 10년의 긴 여정을 마무리하고 아티스트들은 각자의 위치에서 새로운 도전을 시작하려고 합니다. 그 동안 보내주신 성원과 사랑에 진심으로 감사드리며 아티스트들의 새로운 시작에 많은 응원부탁드리겠습니다. 다시 한번 감사합니다.

A post shared by 1LLIONAIRE RECORDS OFFICIAL (@1llionaire_records) on Jul 6, 2020 at 2:29am PDT

1. [+838, -36] 1llionaire had no il[work]
2. [+738, -76] Who cares what these hip hop ba$tards do ㅋㅋㅋㅋㅋ
3. [+657, -57] This is why good leaders are important...look at YG flailing right now ..
4. [+92, -2] Did they go bankrupt because they couldn't pay back all those watches they loaned?
5. [+73, -3] I could tell they were going to fail anyway from looking at their tryhard music  
6. [+60, -3] Dok2 built it and Dok2 brought it down
7. [+53, -0] All because of Dok2 ㅋ
8. [+49, -0] They were doing to disband anyway but because of the Corona their profits took a hit faster because they relied heavily on events and concerts for income. 
9. [+47, -3] Trot took all the attention away from hip hop
10. [+39, -1] I've always been suspicious of Dok2...are we sure there isn't more to this?

Additional Source: OSEN