A bit of shocking news came to light late last night when a market analysis report betted that global K-pop sensation Blackpink will not be renewing its contract with YG Entertainment. Read on to find out what was said!
According to Hyundai Motor Securities analyst, Kim Hyun Yong, "The possibility of all Blackpink members renewing their contracts [with YG Entertainment] looks dim currently, though it is likely that Blackpink’s group activity will continue with some members extending their contracts." He continued, "It will inevitably be bad news for YG Entertainment unless it renews contracts with all four members."
"It will inevitably be bad news for YG Entertainment unless it renews contracts with all four members."
— Kim Hyun Yong, Hyundai Motor Securities Analyst
Kim's statement about the supergroup comes after YG Entertainment's stock plunged 20 percent since the issues came into the public eye. Kim expects Blackpink sales to drop 30 percent as a three-member group and could possibly drop more than 50 percent if two or more members discontinue their contracts.
NH Investment and Securities has blamed the Blackpink rumors as bad for YG Entertainment's stock and image as it urges the company to come forward with a solid statement soon.
What do you think about how YG is handling this issue? How should they have handled it? Comment below!