BLACKPINK have reportedly agreed to non-exclusive contract renewals with YG Entertainment.
According to an exclusive report from Munhwa Ilbo, BLACKPINK will maintain their group activities with YG Entertainment. However, the contracts that they will be signing with YG Entertainment are non-exclusive, which means they will be free to sign with a different agency for their individual promotions. It was also reported that two of the members have already signed this contract with YG Entertainment. The two members that did sign were not named.
The BLACKPINK members are some of the highly touted individuals in the free agency market right now, with rumors of companies offering down payments of up to ₩10 billion KRW (about $77.1 million USD) to secure their transfer into their agency. One K-Pop insider stated that the BLACKPINK members are still in discussions with YG Entertainment because they do believe it is more efficient to stay with YG Entertainment as they supported BLACKPINK’s activities.
YG Entertainment shared a short statement regarding this news.
We are still in discussions. Nothing has been decided yet.
— YG Entertainment
Previously, it was reported that YG Entertainment would share their official stance on BLACKPINK’s contract renewal through a corporate document.