On December 31, Jay Park dropped an announcement on social media that he will be stepping down as the CEO of both labels he founded, AOMG and H1GHR Music.

Jay Park took to Twitter his announcement of stepping down, as well as his heartfelt gratitude to his fans, all the artists and employees at both labels. In his letter, Jay Park also revealed that he will still remain in both labels as an advisor, and that he will continue to treat them as a family and his crew.

Meanwhile, Jay also released a new single and music video “To Life” on January 1, which mentions his journey as both an artist and a CEO. The music video also features both AOMG’s artists and producers.

On the same day of the release of his new single, the artist and former CEO deactivated his Instagram which surprised and saddened many fans. Following this are speculations about Jay Park’s retirement in in the industry, which he hinted in one of his Twitter posts.

Jay Park has previously founded launched AOMG in 2013, while he and producer Cha Cha Malone co-formed H1GHR MUSIC Records in 2017. The former CEO is set to launch his own soju brand “Won Soju” this year.