The abundance in Korean hip hop compared to just a few years ago  isn't much different for the fact that the amount of rappers out there  spreading their name and mixtapes may be the same, but the amount of  music labels created is definitely different. In this case, more music  labels have been created than before. 
I'm sure there were labels floating around but you have to admit, 
Soul Company was pretty much that chubby, cute guy with the top hat and cane in Monopoly collecting all of the money in the game with 
Jungle Entertainment and 
Amoeba Culture coming in close second. You can say that this was the 
SM-YG-JYP of  your Korean hip hop a few years ago. But with the disbandment of Soul  Company and Jungle Entertainment prioritizing their 'idol hip hop group'  
M.I.B, you can say the two out of the three in the holy trinity of what Korean hip hop was began crumbling. 
The Quiett left Soul Company to pursue his own 'thang' in setting up 
Illionaire Records alongside 
Dok2 and that was really the beginning of Soul Company falling apart, 
Loptimist  leaving soon afterwards to join Jungle Entertainment (to which, I still  don't know why he did to this day) and the label disbanding fully in  November of 2011. Then everyone really went their separate ways. 
Minos, 
Kebee, and 
RHYME-A- set up 
Standart Music, 
DJ Dopsh & 
Crucial Star headed for 
Grandline Entertainment, and everyone else just popping up at shows or with their new albums every few months or so. 
In the case of Jungle Entertainment, they decided to push for mainstream once 
Tiger JK and 
T hit it off as partners for the summer special performance with MC 
Yoo Jaesuk on the popular show "Infinity Challenge." With 
Paloalto having left to establish
 Hi-Lite Records and Leessang still technically under Jungle Entertainment but setting up their own music label, 
Leessang Company, other artists such as 
Bizzy, 
Jungin, 
Jo Moongeun, and 
TEBY are under the label as well but aren't seeing much light (thanks M.I.B!) sad to say.
But  among the Three Musketeers is one hopeful music label which is Amoeba  Culture. Like the other two, they too had their downtime when 
Dynamic Duo, the face of their company then, had enlisted into the military and 
E-Sens of 
Supreme Team  being blown over his marijuana scandal. However, instead of the music  label disbanding or prioritizing on their 'hip hop idol group,' the  company has been working extra hard to step their game up, and it's  thanks to their recent recruitment of artists 
Jtong and 
Zion.T. Also working hard is producer 
Primary  who has been releasing nonstop singles after his long hiatus as well as  Dynamic Duo the moment they had discharged from the military. 
However,  you can't necessarily always depend on old music labels to continue  their reign because with Korean hip hop constantly growing with incoming  new faces, this also means that you're at stake of being overthrown  from your throne. And it already looks like there are new faces in the  scene (run by some old face rappers) to take over.

 
As  of lately, it's been a battle between the three labels: Grandline  Entertainment, Hi-Lite Records, and Illionaire Records. Why these three?  Because they're the only three companies who have been active with not  only promoting their artists, but hosting their own shows as well.  Grandline Entertainment has been hosting shows every few months, I'd say  once every six months and they've been doing the best in terms of  revenue. It's thanks to the artists and their insane networking that the  lineup is worth going for, but it's also bad that the lineup is what  they depend on to break even. Hi-Lite Records on the other hand may lack  in income, but the artists together have a strong built bond (you  always see them collaborating, from mixtapes to EPs and even free songs)  as well as a strong 'fanbase.' By strong fanbase, I mean that people  who are fans of artists in Hi-Lite are usually fans of all the artists  under the label so you have loyalty guaranteed for whatever release  pretty much. And finally, in the case of Illionaire Records, you have  what these two companies don't have yet: mainstream. Although Grandline  Entertainment may have some crazy network, nothing tops what Dok2 and  The Quiett alone have through collaborating with mainstream artists like  
Jay Park and 
Hyuna to being friends with idols such as 
Junhyung from 
BEAST.  That alone gets you spotlight and fame from not only your experience in  the underground scene, but from the mainstream scene as well. I've seen  some fans of BEAST follow Illionaire since Junhyung became friends with  the two, and you know fan girls - they'll buy your CDs (and call you oppa).

 
With what was the Holy Trinity of Korean  hip hop having led so much artists as well as majority of the  underground scene so well yet still crashing and crumbling, it makes me  wonder if these new labels of the underground generation today can stand  a chance and live up to the saga from before. Are they the new kid from  Africa who learns and adapts from what the underground scene had been  before? Can they be considered the Cady Heron who overthrows Regina  George? Or are all these companies and labels just mere names of a Burn  Book and we're still waiting for a Regina George to take full reign over  Korean hip hop? Who knows what will happen in the span of the next few  months, years, or decades but I hope they still wear snapbacks on  Wednesdays.