YG Entertainment is shutting down claims that BLACKPINK is transferring to their subsidiary label, The Black Label.
On Thursday, reports from K-Pop Herald and The Korea Herald claimed BLACKPINK would move to The Black Label for future management, per an insider source.
The Korea Herald report also claimed discussions regarding the members’ contracts and management were completed early this year.
The Black Label is helmed by producer Teddy Park, who has overseen BLACKPINK’s discography since day one.
A representative from YG Entertainment responded to the reports, saying: “What I can say is that our contracts with the members have not ended yet. It’s hard to confirm whether they will sign with The Black Label or not after their contracts end.”
The BLACKPINK news joins a slew of YG Entertainment announcements this week.
On Thursday, the entertainment agency teased an image of their new septet girl group with an announcement scheduled for Jan. 1, 2023, 12 a.m. KST.
On the same day, the members of YG boy group iKON terminated their contracts with the label in a mutual agreement, ending a seven-year partnership. They are reportedly in talks to operate under 143 Entertainment.
Earlier this week, Taeyang and Daesung of BIGBANG left YG following their contract expirations, with the former signing with The Black Label.