YG shares fall on information Blackpink’s Lisa rejects contract renewal supply
(L-R) Rosé, Jisoo, Lisa, and Jennie of BLACKPINK carry out on the Coachella Stage throughout the 2023 Coachella Valley Music and Arts Pageant on April 22, 2023 in Indio, California.
Emma Mcintyre | Getty Photos Leisure | Getty Photos
Shares of Okay-pop company YG Leisure tumbled nearly 9% on Friday after South Korean media reported that Blackpink member Lisa has rejected a contract renewal supply from the company.
The share worth tumble is YG’s largest one-day drop since September 28, 2022.
In keeping with South Korean information outlet Star Information, the Thailand-born member has rejected two gives from YG, with the scale of the contract reportedly price 50 billion South Korean received ($37.6 million).
This follows studies earlier in July that Lisa has “not been capable of finding an settlement” concerning a contract extension with the company.
On 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 massive.”
Blackpink — made up of members Jisoo, Jennie and Rosé, along with Lisa — has been one among YG’s most profitable Okay-pop teams.
The information comes as Blackpink wraps up its “Born Pink” world tour, in what has been described as the biggest world tour by a Okay-pop lady group, attracting an estimated 1.5 million individuals 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 Okay-pop teams sometimes signal seven-year contracts, Blackpink’s contract was anticipated to run out in August, however the company has not confirmed any contract renewals with any of the members.