BLACKPINK Renews Contract With YG Entertainment

BLACKPINK, the multinational female music act that is the biggest girl band in the K-pop firmament, has finally signed renewed contracts with YG Entertainment.

The news was revealed in a regulatory filing by the company on Wednesday and caused its KOSDAQ-listed shares to leap by 26% to KRW60,700 by midday.

“The board has completed a resolution about renewing the contracts with Blackpink’s four members,” YG said in the filing.

In a press statement, the company said that Blackpink plans a new album and a world tour. “We are pleased to continue our relationship with Blackpink,” YG founder Yang Hyun Suk said in the statement. 

“Blackpink will continue to do its best to shine even brighter in the global music market as an artist representing not only our company but also K-pop. […] And we send our unwavering support and faith to [fans].”

The news comes after months of speculation that the four-piece act – Jisoo (real name Kim Ji-soo), Lisa (Lalisa Manobal), Jennie (Kim Jennie) and Rose (Roseanne Park) – would take their acts to another shop. Blackpink’s previous contracts with YG expired in August.

Blackpink was formed under YG in 2016, but as the quartet hit new levels of recognition and popularity worldwide there has been speculation that the old seven-year deal would need to be substantially renegotiated in the members’ favor.

The band’s recent world tour included 66 performances in 34 cities and was watched by 2.1 million spectators. They also headlined at Coachella in April.

There has also been speculation that the four band members are increasingly looking to develop their individual careers.

The Munhwa Ilbo appears to echo the notion, saying: “Exclusive contracts between each member and YG Entertainment were not signed. In the future, they plan to carry out individual activities and come together only for Blackpink activities.”

In April, Blackpink made history with its sophomore set, “Born Pink,” becoming the first album from an all-female group to hit No. 1 since Danity Kane’s “Welcome to the Dollhouse” in 2008.