YG Entertainment's new hip-hop project is well under way with the release of two new teasers for the upcoming collaboration between G-Dragon and Taeyang.

Earlier this week, it was revealed that Big Bang members G-Dragon and Taeyang would make up the first of two new hip-hop projects the South Korean record label plans to release in the coming weeks. The latest teaser releases give further details about the new collaboration and naming G-Dragon as the mastermind behind the new song.

An image unveiled on YG Entertainment's company blog, YG Life, on November 18 revealed the name of the new project song, "Good Boy," as well as news that the November 21 release will include the single and the accompanying music video - both at midnight KST.

A day later, on November 19, another teaser poster for "Good Boy" was revealed on the blog with a few more details about the song. Not surprisingly, G-Dragon, who is one of YG Entertainment's main producers, is listed as the lyricist and arranger for the new song as well as one of three composers along with Fliptones and Freedo.

Both "Good Boy" posters also include a new symbol for the duo, half a peace sign surrounded by sun rays, a combination of the G-Dragon's and Taeyang's monikers as solo artists.

The new collaboration project has been gaining attention from fans since November 13 when YG Entertainment released another one of their infamous 'Who's Next?' teasers, this time announcing a 'HIPHOP Project' featuring five of the company's artists. The poster revealed plans for two projects, the first to be released on November 21, and the second to follow on December 2.

A few days later, on November 17, Big Bang leader G-Dragon was revealed to be one of two artists included in Project 1. The following day, his group-mate and best friend Taeyang was announced as the other half. Behind the scenes photos from the pair's upcoming "Good Boy" music video were also released through social media.

Fans have expressed their excitement for the new project online, posting comments to the YG Family Facebook page. "Been waiting for this for far too long," said Catherine Park of the first teaser image.

"First bad boy, now good boy? Anyhow, I'm excited," wrote Christin Li in a comment about the second teaser image, hinting that the track might be a follow-up to Big Bang's 2012 "Bad Boy" single.

Fans can expect details of YG's second hip-hop project to emerge following the release of "Good Boy" on November 21.

UPDATE 1: On November 20 (KST), YG Entertainment unveiled a 16-second teaser video for the upcoming "Good Boy" music video through Big Bang's official Facebook page.

UPDATE 2: On November 21 (KST), G-Dragon and Taeyang unveiled the music video for "Good Boy."