YG confirmed that BLACKPINK had only signed a collective contract for group operations and that none of the members renewed their individual contracts with the company. This led to the removal.
Following the failure in the renegotiation of BLACKPINK‘s contract, the price of YG’s stock dropped.
The securities company thought that YG’s revenue for the previous year, which came to 121 billion won, would drop by 3% year-over-year.
It was expected that operating profit would drop by a big 50%, to 78 billion won.
Experts, on the other hand, said that YG’s current stock price shows that the market is too worried, which means that the drop might have been too big, ruling out any future actions by BLACKPINK.
The agreement for BLACKPINK‘s group operations is still in place.
Now, only their own activities are separate from YG Entertainment.
Source(1)
