B.I will be stepping down from his management position at 131 Label in order to focus on his activities as an artist/producer, the agency relayed on February 3. 

131 Label started out as an independent, one-man agency founded by B.I. The company initially maintained relations with IOK Company, before going fully independent in 2022. Afterward, 131 proceeded to recruit new artists to its lineup beginning with hip-hop artist Reddy, expanding its business.

Now, according to the company's notice on this day, 131 label will be undergoing a restructuring of its management system. The company will hire entertainment business experts for the expansion of its reach, including professionals in publishing, producing, artist management and more.

Furthermore, 131 Label announced the following updates regarding B.I's music release plans for 2023:

"B.I has been continuously working around the clock for a lengthy period, completing his global album project series 'Love or Loved'. Following the release and promotions of 'Love or Loved PT.1' last year, the artist has been giving his all on completing his 2nd studio album as well as 'Love or Loved PT.2' simultaneously. The decision to divide 'Love or Loved' into two parts originated from the artist’s intention and desire to express his most transparent thoughts on the topic of love. Additionally, he articulated an introductory story on the fearlessness and naiveté of youth in 'COSMOS', the half album of his 2nd studio album, grounded in the idea of eternal love. After two whole years of placing his focus on the topic, we’d like to announce today that after a long internal discussion, B.I will now be moving onto his stories on having 'loved'. This is so that we can better deliver his story on youth and love to all of the listeners including our dear IDs.

And so, instead of our aforementioned plan of starting the year with the release of his global album 'Love or Loved PT.2', the artist will put forth his 2nd studio album and express his take on ‘love’ to a full completion first, before moving onto its past tense, which will be released in the latter half of the year. Please continue your love and support for B.I in his endeavor of rendering these two stories throughout the year. Thank you so much."