The South Korean record label, Illionaire Records has been closed after nearly 10 years of operation.
On July 6, the Illionaire Records official announced on social media, “Illionaire Records has completed our long 10-year journey, and our artists will each be beginning their own respective journeys. Thank you for your continuous support throughout the years, and we ask for your support for our artists as they set out on their new paths. Thank you once again.”
Record label Illionaire Records Closes After 10 Years Of Operation
The decision was made after The Quiett, After the announcement, The Quiett, a co-founder of the label, wrote on his social media account, “Thanks for everything!” Numerous hip hop artists, including BewhY, Palo Alto, Hangzoo, Jay Park, and more also left comments showing their support for the artists previously under Illionaire Records.
Illionaire Records was an independent South Korean record label formed in January 2011 by rappers The Quiett and Dok2. The label also represents rapper Beenzino. Despite its small size, Illionaire Records has considered one of the most influential hip-hop record labels in South Korea due to the popularity of its artists.
As of 6 July 2020, Illionaire Records announced via their official social media accounts that they are now defunct.