All four members of Blackpink have renewed their contracts with their management company, YG Entertainment.
The agency announced the anticipated news in a statement on Wednesday, noting "an exclusive contract for group activities based on strong trust" has been signed.
They assured Blackpink planned to "repay their fans around the world with activities that match their global status in the K-pop scene with new albums and world tours".
YG did not elaborate on the details of the quartet’s contract.
Shortly after Blackpink’s contract renewal, the company’s share price flared up to 20%, underscoring the South Korean girl group’s undeniable influence.
Should the members, Jisoo, Jennie, Rosé, and Lisa, had decided against renewing the contracts, which originally expired in August, they would have been free to pursue solo ventures, including their music career.
The girls also announced their first joint collaboration with renowned Japanese contemporary and pop artist on the same day as the contract renewal.
The collaboration announcement was accompanied by a visually appealing poster, posted on Blackpink’s official social media accounts.
The limited-edition collaboration is slated for release on Friday, Dec. 8, which will feature an offline and online pop-up stores having their merchandise.
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