BLACKPINK renews contract with YG Entertainment

BLACKPINK, the global phenomenon of K-pop, has renewed its contract with YG Entertainment, increasing stakes by 26%, according to regulatory reports.

The global phenomenon and K-pop girl group BLACKPINK has officially renewed its contract with YG Entertainment. After months of speculation about whether some members of the band, specifically Jisoo, Jennie, and Lisa, were planning to part ways with YG when their exclusive contract ended in August, it has now been announced that all members have renewed their contracts. Following the news, the company’s stocks increased by 26%, according to regulatory reports.

In Wednesday’s presentation, YG Entertainment issued a statement that read, “The board of directors has reached a resolution regarding the contract renewal with all four members of BLACKPINK.” YG’s founder, Yang Hyun Suk, stated in another release, “We are pleased to continue our relationship with BLACKPINK. BLACKPINK will continue to strive to shine even brighter in the global music market as an artist representing not only our company but also K-pop… We extend our unwavering support and faith to the fans.”

According to Variety, the individual contracts of the four group members are still under negotiation. The group was formed under YG in 2016. As the quartet reached new levels of global popularity, speculation arose that the seven-year contract would need to be renegotiated. The group’s most recent world tour included 66 performances in 34 cities.