K-pop group BLACKPINK will be joining the exodus of artists from YG Entertainment, according to a report.
In the last few days, Big Bang’s Taeyang and Daesung, and K-pop boy band iKON have left YG Entertainment, the Korean company under which they debuted.
On Dec. 30, Korean media outlet Korea Herald reported that BLACKPINK will transfer from YG Entertainment to The Black Label, an associate company where YG Entertainment has a 30.11 percent stake based on latest corporate filings.
“@BLACKPINK will change their agency to YG affiliate @THEBLACKLABEL, founded by Teddy, according to our sources. The industry insider added that the discussions over changing the girls' management have been made since early this year,” the Korea Herald posted on Twitter.
When it asked a YG Entertainment official about BLACKPINK’s move to The Black Label, the official said, "I'm not in the position to confirm the news, but our contracts with the members have not yet ended. It's hard to confirm whether they will sign with The Black Label or not after their contracts end."
BLACKPINK debuted in August 2016. Based on the common seven-year contracts for K-pop artists, their contracts will likely expire in 2023.
Big Bang members T.O.P, Taeyang and Daesung have left YG Entertainment. Taeyang transferred to The Black Label.
iKON left YG Entertainment, according to an announcement from the agency on Dec. 30.
Actor Gang Dong-won also left YG Entertainment, according to the agency.