World-renowned Korean superstar Psy will stay at YG for three more years. 

On Dec. 2, an insider at YG Entertainment, Psy's management company, stated that Psy has renewed his contract at YG for three more years. The last time his contract was up for renewal was in 2010, when he signed a 5-year contract with the company.

With this 3-year extension, Psy will continue under the company that supported him when he released the worldwide hits "Gangnam Style," "Gentleman," and "Hangover." Contract negotiations were reported to have gone over smoothly, with Psy choosing to stay loyal to YG. 

On Nov. 30, Psy released back-to-back music videos for "Daddy" and "Napal Baji," two songs off his latest album "Chiljip Psy-da." In just three days, the music video for "Daddy" has amassed over 18 million views, while "Napal Baji" has reached a hefty 5 million. Although the music videos have not been met with the explosive popularity of his previous hits, Psy is still a major player in the Korean music industry.

"Chiljip Psy-da," Psy's 7th album, contains a total of 9 songs and includes many collaborations with western artists, including will.i.am of the Black Eyed Peas and Ed Sheeran.