On Wednesday, Korea's Yonhap News Agency reported the death toll of the Sewol ferry disaster had risen to 281, with 23 people still missing.

The 6,825-ton Sewol ferry had been transporting 476 passengers to the island resort of Jeju, off of South Korea's Southeast Coast, on April 16, when it sank near Jindo Island.

Many of the victims were reportedly students from a high school outside of the city of Seoul on a class trip.

Earlier on Wednesday, YG Entertainment CEO Yang Hyun Suk told the publication TV report, that following nearly a month of severely restricted label activity out of respect for victims of the tragedy, the company would be resuming its normal operations.

"We are carrying out all the planned activities that were suspended for about a month," Yang said.

"We've already finished the preparation process for several projects. We'll be having a meeting today on when to debut those acts. We haven't decided who will come first, but many of our singers will come back in May and June. YG will also come back to where it should be."

According to the label CEO, after many of their artists suspended their activities following the disaster, it seemed only natural to follow suit.

"Most K-pop singers stopped performing after the sinking of the Sewol ferry, which was such tragic, sad news," he said. "YG also suspended all activities to join the artists in mourning."

YG projects waiting in the wings include Psy's new album as well as WINNER's debut album.

One event already rescheduled is Big Bang rapper T.O.P's "From T.O.P Exhibition." The art show, which includes photos from the star's first published collection, will be held at JnB Gallery at Seoul's Horim Art Center from June 4 to June 7.