Psy thinks spending 357,000 USD was too much for golden 'Gangnam Style' monument

The metal sculpture shows two fists overlapped in the style of the song's "horse-riding" dance move.

Psy's Gangnam Style was the most-watched video on YouTube till July 2017 Reuters

South Korean singer Psy has opened up about the statue dedicated to his hit song Gangnam Style. The metal sculpture shows two fists overlapped in the style of the song's "horse-riding" dance move.

It is erected outside the COEX shopping and exhibition centre in Seoul, where a part of the iconic dance video was shot. The statue is reportedly worth 400,000,000 KRW, which is equal to approximately 357,142 USD.

During an interview with Ilgan Sports, Psy said: "I think it's just too much. It's also funny how they only created the hands."

"I understand that everyone was so hyped and excited after the song went viral but this is my occupation after all. I didn't do it for the country or anything. I really appreciate the fact that they used tax money to create this but I really think it's just too much," he added.

In 2012, Gangnam Style became the first video on YouTube to reach 1 billion views. The video has crossed 2,912,302,383 views, at the time of writing. Psy's 2013 track, Gentleman, has just under 1.1 billion views.

After five years, Gangnam Style was overtaken by Wiz Khalifa and Charlie Puth's hit See You Again.

When asked if it was possible for him to make another hit song like Gangnam Style, he replied: "Timing is very important...'Gangnam Style' was just right. The song 'Right Now' might've succeeded too, who knows. The song just happened to be released in the summer when a lot of people coincidentally got to listen to it."

Most-watched music videos on YouTube (till July)
1) Wiz Khalifa - See You Again (ft Charlie Puth)
2) Psy Gangnam - Style
3) Justin Bieber - Sorry
4) Mark Ronson - Uptown Funk (ft Bruno Mars)
5) Luis Fonsi - Despacito (ft Daddy Yankee)
6) Taylor Swift - Shake It Off
7) Enrique Iglesias - Bailando
8) Maroon 5 - Sugar
9) Katy Perry - Roar
10) Taylor Swift - Blank Space