One-man agency forecast for Rain

/Screen capture from Instagram

Singer Rain, 33, is likely to set up a one-man entertainment agency after the termination of his two-year-contract with Cube Entertainment, Daily Sports reported Thursday.

The entertainment news outlet cited sources close to the singer, whose name is Jung Ji-hoon, as saying he will establish his own management company with an old friend who is well connected to the entertainment industry.

Jung posted a statement image on his Instagram page a week ago saying he had successfully concluded the contract issue after lengthy discussions with Cube President Hong Seung-sung.

The singer also said he will soon announce his plans.