Jay Park has assured fans he has "not retiring yet."

The 34-year-old musician and record label executive - who has not released an album of his own since 2019 - took to Twitter to respond to rumours that he was quitting the industry altogether, which came about when he announced his plans to his decision to step down as the CEO of South Korean labels AOMG and H1GHR MUSIC at the end of 2021.

He said: "[I am] not retiring yet. in the last two years I think I did like 80 fts but only put out like 7 songs under my name lol."

The ' All I Wanna Do' hitmaker - who first came to prominence on South Korean reality television before earning millions of followers by posting covers on YouTube - then went on to explain in the tweet that he "owes [himself] and his fans" at least one or two further albums and promised that a "crazy" year is in store.

He added: "I owe myself and my fans at least 1-2 more good albums. I'm just to much of a man of the ppl's sometimes I put my own career on hold. this year gon be crazy. trust!"(sic)."

What's more, the music mogul is also reportedly in talks with music group Kakao Entertainment to create and manage his own K-Pop boyband, although any "major details" on that are "yet to be confirmed."

In response to a report claiming that a new boyband could be on the cards, an insider told SBS News: "It is true that we are currently discussing possibilities for a business partnership with Jay Park. However, major details have yet to be confirmed. Jay Park is an artist who is currently active in various fields including as a singer, a music producer, and more. Kakao Entertainment is seeking to diversify its business in the music market through various partnership opportunities."