Chief of major K-pop label steps down over drug allegations

SEOUL, South Korea (AP) — The founder of one of the most successful K-Pop music agencies has stepped down amid accusations that he tried to cover up alleged drug use by one of the company's artists.

Yang Hyun Suk said in a statement posted Friday on the website of YG Entertainment that he was dealing with "malicious gossip," but that he was stepping down to protect the reputation of the company's artists.

The announcement comes after singer B.I. left the boy band iKON following allegations he tried to solicit drugs from another YG artist. B.I. said he once considered purchasing drugs, but denied taking them.

Yang, a major 1990s pop star, founded YG in 1996.