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Will Blackpink renew contract as group?

By Hong Yoo

Published : Nov. 22, 2023 - 15:58

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Members of South Korean band Blackpink attend the State Banquet during the South Korean President's state visit at Buckingham Palace in London, Britain, on Tuesday. (Reuters-Yonhap) Members of South Korean band Blackpink attend the State Banquet during the South Korean President's state visit at Buckingham Palace in London, Britain, on Tuesday. (Reuters-Yonhap)

Blackpink, one of K-pop's top groups, attended Tuesday a banquet at Buckingham Palace in honor of President Yoon Suk Yeol’s state visit to the UK.

The appearance of all Blackpink members -- Jisoo, Rose, Jennie and Lisa -- raised the possibility that the members might renew their contract with their label, YG Entertainment.

The quartet’s exclusive contract with YG expired in August but it still remains unclear whether or not the group will renew their contract with the agency.

Earlier this week, local reports said that the group’s four members are in the final stages of renewing their contracts with the agency for group activities, citing music industry sources.

This means that individual members will not be renewing their exclusive contracts with YG but continue their group obligations under the label.

But YG continued to reiterate that “nothing has been decided yet” adding that the contract renewal is “still under negotiation.”

Unlike most K-pop bands’ contract renewals that take place without much fanfare, Blackpink’s contract renewal is causing quite a commotion, as not only are they a globally renowned K-pop girl group that has made a lot of firsts in K-pop history but also, they're the biggest profit-maker at YG.

YG Entertainment’s shares fell 9 percent on Sep. 14 and 13 percent on Sep. 21 when there were local media reports that Jisoo, Lisa and Jennie were not renewing their contracts with the label.

But shares climbed over three percent on Monday after reports that the group has agreed to continue group activities under the label.

Blackpink continues to expand its wings both as individuals and as a group.

Last Friday, Blackpink’s Rose attended a spousal event at the Asia-Pacific Economic Cooperation summit in California to discuss efforts to enhance mental health.

The quartet held the biggest world tour in K-pop girl group history this year garnering an audience of 1.8 million around the world.

They also made history by becoming the first K-pop girl group to headline the Coachella Valley Music and Arts Festival this year and the first K-pop group to headline London’s major music festival, BST Hyde Park.