All four members of Blackpink have renewed their contract with YG Entertainment, the label confirmed on Wednesday.
The news of Blackpink
members staying together first broke out after a regulatory filing
published on Korea
Exchange was spotted on Wednesday, ending months-long speculations over the K-pop
powerhouse’s future after their contract expired in August. YG Entertainment
subsequently confirmed the news in a statement, saying “After careful discussions with members of Blackpink, it signed an exclusive contract for the group’s activities based on deep trust.”
Blackpink, which consists of Jennie
, debuted in August 2016. YG added that the group plans to “repay their fans around the world with activities that match their global status in the K-pop scene with new albums and world tours.”
About the contract:
YG did not disclose the details of Blackpink’s new contract — such as its end date — but it is believed to be one of the most lucrative signed by any group in 2023, as per the BBC
. Reports emerged in late November that two members had signed non-exclusive contracts
with the label.
Following the announcement, YG’s stock price reportedly grew
to as much as 25.63%. Its subsidiary YG PLUS, which focuses on intellectual property rights, also saw an increase of 23.81% in Wednesday’s session.
Blackpink fans, affectionately known as Blinks, celebrated the quartet’s contract renewal on social media. One X user declared
, “Real music is coming back. We won so hard.”
One fan noted
that the group’s return is “good for the K-pop market.” Another hoped
that YG promotes them “how they should’ve always been promoted.”