Blackpink’s Lisa Rejects Contract Renewal Offer from YG Entertainment
YG Entertainment Faces Sharp Drop in Share Price
Shares of K-pop agency YG Entertainment plummeted almost 9% on Friday following reports from South Korean media that Blackpink member Lisa has declined a contract renewal offer from the agency.
This sharp decline in share price marks YG’s largest one-day drop since September 28, 2022.
According to South Korean news outlet Star News, Lisa, who was born in Thailand, has rejected two offers from YG. The reported size of the contract was a staggering 50 billion South Korean won ($37.6 million).
These reports follow earlier indications in July that Lisa was unable to reach an agreement with the agency regarding a contract extension.
At that time, South Korean media outlet Newsen reported that YG had acknowledged ongoing discussions for contract renewal, but Munhwa Ilbo stated that “the differences between the two sides are quite substantial.”
Blackpink’s Success and “Born Pink” World Tour
Blackpink, composed of members Jisoo, Jennie, Rosé, and Lisa, has emerged as one of YG’s most successful K-pop groups.
This news comes amidst the conclusion of Blackpink’s “Born Pink” world tour, which has been hailed as the largest world tour by a K-pop girl group. Over 41 cities since October 2022, an estimated 1.5 million people have attended their concerts.
The final two days of the tour will take place on September 16 and 17 in Seoul.
Having debuted with YG in August 2016, Blackpink’s initial seven-year contract was expected to expire this August. However, the agency has yet to confirm any contract renewals with the members.
