G-Dragon's new agency, an AI metaverse startup, will explain the details of the recent drug scandal and lay out the plans for his comeback in a press conference on Thursday.

Galaxy Corporation, a Korean metaverse developer founded in 2019, said Wednesday that it will hold a press conference at the JW Marriott Hotel in southern Seoul to explain in full detail how G-Dragon's name came up in the drug scandal by "a false accuser."

The company will also announce plans for G-Dragon's activities for 2024, although no hints were given on Wednesday. G-Dragon will not be present at the conference, it said.

A media report earlier this month said G-Dragon was in talks to sign an exclusive contract with Galaxy Corporation after leaving YG Entertainment in June when his contract expired.

Galaxy Corporation has been expanding into the entertainment industry by acquiring talent agencies and production studios.

The singer has been cleared of all charges of drug use. The Incheon Nonhyun Police Precinct decided to close the case against G-Dragon, whose real name is Kwon Ji-yong, and did not refer the case to prosecutors, according to media reports on Tuesday.

G-Dragon has denied all accusations since he was booked on suspicion of illegal drug use on Oct. 25. An investigation began after a manager at a nightclub claimed she "saw a strange package" at the toilet of a bar after G-Dragon came out from the room and that he had "acted strange" afterward, in December last year.

BY YOON SO-YEON [yoon.soyeon@joongang.co.kr]