For the second time, Korean singer Rain is setting up his own label.

Korean R&B artist Rain (Jung Ji Hoon) will set up a new entertainment agency, Korean media announced on Thursday. The decision was spurred by the recent expiration of singer-actor's contract with Cube Entertainment.

CREATE will be a one-man agency that Rain will manage, and his second venture into entertainment management.

A week before the news, Rain took to Instagram to inform fans about his decision to depart from Cube Entertainment.

"After a long discussion with Hong Seung-sung, the head of Cube Entertainment who has been like a father figure to me, I decided to leave the agency," Rain said. "I want to thank him for all the support he has given me."

CREATE is Rain's second management company to date.

Rain debuted under JYP Entertainment as a soloist in 2002, and left the agency in 2007 to form his own company, J.Tune Entertainment. In 2010, Rain sold his shares to JYP Entertainment's founder Park Jin Young, and in 2013 J.Tune Entertainment was merged fully into JYP Entertainment.

Following Rain's discharge from the Korean military in 2013, the entertainer signed a two-year contract with Cube Entertainment.

The new label, CREATE, will focus on Rain's career, and will employee Rain's longtime manager.

Rain recently took on a role in the Chinese drama, "Diamon Lover." His latest release as an artist was the 2014 album, "Rain Effect."

---