On the 10th, he released a statement that read,

This is the first news from R.A.I.N Company.

We'd like to let you know that the actor and singer Rain (Jung Ji Hoon) has signed an exclusive contract with us on October 1st. Rain Company will build a dream team with a staff that has the best ability in all aspects that they built from experiences. If the basic management was to have one manager team manage albums, dramas, movies, and overseas business tasks, we will be adopting an American agency system to manage singers and actors with professionals from each specialty.

Vice President Kim Yong Bae, who has been with Rain since his debut, will manage the album team. Representative Park Jong Sun will be taking care of the actor team, the American agency will still be managed by WME, and Jason Jang will take care of Chinese activities.

As such, specialists from each division make up our label, and we will make efforts to bring in rookies and to develop contents for our existing celebrities. We will stay humble and do our best to become a multi entertainment company for the best artists.

Thank you.

Congratulations to Rain on his new label!