Hip Hop Label Illionaire Records Bids Goodbye After 10 Years Of Operation

Jul 07, 2020 | by RD Revez

The Hip Hop label Illionaire Records is now signing off after ten years of operation.

On July 6, Illionaire Records declared through social media, "Illionaire Records has concluded our long 10-year journey, and our artists will each be starting their separate journeys. Thank you for your endless support throughout the years, and we ask for your support for our artists once again as they set out on their new paths. Thank you once again."

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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

After the announcement released by the label, the co-founder of the agency- The Quiett, wrote on his social media account, saying, "Thanks for everything!" Various hip hop performers, including BewhY, Palo Alto, Hangzoo, Jay Park, and more, also gave remarks bestowing their support for the creative artists previously under Illionaire Records." [via IDN Korea]

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그 동안 감사했습니다!

A post shared by thequiett (@thequiett) on Jul 6, 2020 at 2:36am PDT

Illionaire Records' Birth

Despite the small size of the agency, Illionaire records were considered one of the most influential hip hop record labels in South Korea because of its famous artists (Dok2, The Quiett, and Beenzino). It was established by friends and rappers The Quiet and Dok2 on January 1, 2011.

During Complex's interview with the new label, the founders said that they want to start a small label to avoid the traditional K-pop primary label system.

"On the major labels, the money made by the artists is first given to the company to pay the bosses, managers, and staff members," the Quiett said. "In our case, we're the bosses."

The End Of Illionaire

The closing of the agency's operations followed after Dok2, one of the co-founders, left the label February this year.

On July 2, Beenzino announced through a live broadcast on his Instagram account that he is leaving Illionaire Records, saying his desire to find a new environment in which he can flourish more as a musician. "I think I want to engage new music partners. I've lingered in a comfortable place for too long."

Beenzino (Lim Sung-bin) stayed in Illionaire Records for nine years. While in the agency, the rapper made his first appearance at Dok2's Hustle Hard Concert on June 5, 2011. He also toured as a solo artist in the U.S. in 2015.