YG shares fall on news Blackpink’s Lisa turns down agreement renewal deal

YG shares fall on news Blackpink's Lisa rejects contract renewal offer

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( L-R) Ros é, Jisoo, Lisa, and Jennie of BLACKPINK carry out at the Coachella Stage throughout the 2023 Coachella Valley Music and Arts Festival on April 22, 2023 in Indio, California.

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Shares of K-pop firm YG Entertainment toppled nearly 9% on Friday after South Korean media reported that Blackpink member Lisa has actually declined an agreement renewal deal from the firm.

The share rate tumble is YG’s biggest one-day drop because September 28, 2022.

According to South Korean news outlet Star News, the Thailand- born member has actually declined 2 deals from YG, with the size of the agreement supposedly worth 50 billion South Korean won ($376 million).

This follows reports previously in July that Lisa has “not been able to find an agreement” concerning an agreement extension with the firm.

At the time, South Korean media outlet Newsen reported that YG reacted to questions by stating that agreement renewal conversations were underway, however outlet Munhwa Ilbo reported that “it is known that the difference between the two sides is quite large.”

Blackpink– comprised of members Jisoo, Jennie and Ros é, in addition to Lisa– has actually been among YG’s most effective K-pop groups.

The news comes as Blackpink concludes its “Born Pink” world trip, in what has actually been referred to as the biggest world trip by a K-pop woman group, drawing in an approximated 1.5 million individuals over 41 cities because it began in October 2022.

Blackpink will hold the last 2 days of the trip on September 16 and 17 in Seoul.

The four-member group debuted with YG in August2016 As K-pop groups usually sign seven-year agreements, Blackpink’s agreement was anticipated to end in August, however the firm has actually not validated any agreement renewals with any of the members.