(L-R) Rosé, Jisoo, Lisa, and Jennie of BLACKPINK carry out on the Coachella Stage through the 2023 Coachella Valley Music and Arts Festival on April 22, 2023 in Indio, California.
Emma Mcintyre | Getty Images Entertainment | Getty Images
Shares of K-pop agency YG Entertainment tumbled virtually 9% on Friday after South Korean media reported that Blackpink member Lisa has rejected a contract renewal offer from the agency.
The share worth tumble is YG’s largest one-day drop since September 28, 2022.
According to South Korean news outlet Star News, the Thailand-born member has rejected two presents from YG, with the dimensions of the contract reportedly value 50 billion South Korean gained ($37.6 million).
This follows reports earlier in July that Lisa has “not been capable of finding an settlement” relating to a contract extension with the agency.
At the time, South Korean media outlet Newsen reported that YG responded to queries by saying that contract renewal discussions had been underway, however outlet Munhwa Ilbo reported that “it’s identified that the distinction between the 2 sides is sort of giant.”
Blackpink — made up of members Jisoo, Jennie and Rosé, along with Lisa — has been one of YG’s most profitable K-pop teams.
The information comes as Blackpink wraps up its “Born Pink” world tour, in what has been described as the largest world tour by a K-pop lady group, attracting an estimated 1.5 million folks over 41 cities because it began in October 2022.
Blackpink will maintain the ultimate two days of the tour on September 16 and 17 in Seoul.
The four-member group debuted with YG in August 2016. As K-pop teams sometimes signal seven-year contracts, Blackpink’s contract was anticipated to run out in August, however the agency has not confirmed any contract renewals with any of the members.