On December 6 KST, YG Entertainment, the powerhouse behind K-pop sensation BLACKPINK, officially announced a major development in the ongoing contract negotiations with the group. In a statement released, the agency declared, "We have successfully reached an agreement within our board of directors regarding the signing of exclusive group contracts for all four members of BLACKPINK, our esteemed artists."
These negotiations had been underway since August when the previous contracts expired, marking a crucial juncture for the globally renowned group. While the decision to continue group activities has been solidified, the individual contracts for each member are still pending. Notably, sources suggest that two members, including Lisa, have opted to part ways with YG Entertainment, while discussions with the remaining two members are still in progress, according to Munhwa Ilbo.
BLACKPINK recently concluded their immensely successful world tour, 'Born Pink,' in September, boasting an impressive 1.8 million attendees and cumulative sales nearing 300 billion won. Despite the absence of individual exclusive contracts, expectations are high for both YG Entertainment and the members to continue reaping substantial profits from BLACKPINK's collective endeavors.
In a separate statement to media outlet Ilgan Sports, YG Entertainment officially confirmed the renewal of contracts for all four BLACKPINK members, emphasizing the careful deliberations undertaken. "Following careful discussions with BLACKPINK, we have signed a new exclusive contract for the group’s activities, based on the strong trust held in each other," stated YG Entertainment.
Yang Hyun Suk, the founder of YG Entertainment, expressed his joy in continuing the relationship with BLACKPINK and pledged full support for their future endeavors. "In the future, BLACKPINK will do their best to shine even brighter in the global music market and as a K-Pop artist. I will provide them full support and trust in what they do," he said.
Despite the renewal for group activities, the confirmation raises questions about the members' individual pursuits. The contract, as clarified by YG Entertainment, pertains solely to group activities, leaving the possibility open for members to explore individual opportunities with different agencies. YG Entertainment acknowledged ongoing discussions regarding individual contracts in a brief statement to Yonhap, stating, "We are still in discussions [regarding individual contracts]."
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