K-pop agency YG Entertainment said all four members of Blackpink have renewed their contracts with it, dispelling concerns over whether the group would continue to make music after their existing contracts expired in August.
The label is still in talks with Blackpink regarding an exclusive contract for their solo activities.
Shares in the Seoul-based artist promoter rose as much as 29 per cent on Wednesday, their biggest intraday jump in more than a decade. Blackpink plans a new album and a world tour with YG, the agency said in a statement.
“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 K-pop, and we will give them constant support and unwavering trust in their actions.”
The news of Blackpink’s contracts renewal triggered a wave of excitement among fans who have been looking forward to their reunion.
“We won so hard. Real music is coming back,” one commented on X, formerly known as Twitter. Another wrote: “I’m over the moon with joy! Blackpink journey continues with all four members renewing their contracts. The future looks brighter than ever!”
However, some fans expressed discontent with YG, with one saying: “I’m in shock! They all deserve better.”
Blackpink debuted in K-pop in 2016 and became the world’s most popular girl group, setting records on the Billboard charts with hits like “Shut Down” and “Pink Venom”.
The group – whose members are Jisoo, Lisa, Jennie and Rosé – became the first K-pop headliner at the Coachella festival in California and their biggest global tour yet was sold out this year.
Last month, Blackpink members received honorary Member of the Order of the British Empire medals from Britain’s King Charles for their work in bringing the message of environmental sustainability to a global audience as ambassadors for the UK’s presidency of the United Nations Climate Change Conference in 2021.
