YG Entertainment shares climb 3% after Blackpink reportedly agrees to continue as a group

Shares of K-pop agency YG Entertainment climbed over 3% on Monday after South Korean media reported that girl group Blackpink has agreed to continue group activities under the label.

According to an exclusive by South Korean outlet Munhwa Ilbo, individual members will not be renewing their exclusive contracts with YG but the group agreed to continue group activities as Blackpink under the label.

Munhwa Ilbo said “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,” according to a Google translation.

The report added that two members already signed a contract “agreeing to continue Blackpink’s activities,” without naming the members.

It’s the latest development in a long-running contract saga involving the four-member group made up of members Jisoo, Jennie, Rosé, and Lisa.

In September, YG shares plunged on two occasions by 9% and 13% when media reports said three members of the wildly popular girl group will not renew their contracts with the label.

On Tuesday last week, YG said in its quarterly report that Blackpink’s contract is being negotiated, and the company will disclose the results “later.”

Blackpink is arguably one of YG’s most successful acts, with the company claiming the group’s recent world tour attracted 2.11 million people around the world, spanning 66 performances in 34 cities.