Red Velvet’s Joy has made a major decision to continue her journey with SM Entertainment by renewing her contract with the company.

On January 14, Joy shared her excitement about the renewal, stating, "Based on the trust and faith we've built over the past 10 years, I had deep conversations with those I've been working with and felt that I want to move forward together in a good direction. Through positive synergy with SM, I will do my best to show my various sides to the fans."

SM Entertainment also expressed their happiness about the renewal, saying, "Following Seulgi and Irene, we are happy to continue this beautiful journey with Joy. We will work hard to allow her to fully demonstrate her limitless potential, not only as a member of Red Velvet but also as a solo artist and actress 'Park Soo-young.'"

Since Red Velvet’s debut in 2014 with their hit song “Happiness,” the group has gone on to release multiple chart-topping songs such as “Ice Cream Cake,” “Red Flavor,” “Feel My Rhythm,” and “Cosmic,” showcasing their unique concepts and diverse musical styles. The group also celebrated their 10th anniversary last September with a successful Asia fan concert tour, solidifying their strong global influence.

As a solo artist, Joy has also made a mark. She released her special album Hello in 2021, which was loved by fans of all ages. Known for her clear vocals and iconic charm, Joy has also ventured into hosting TV shows, acting, recording OSTs, and showing off her fashion style.

Fans are now looking forward to even more from Joy as she continues her journey with SM Entertainment.

Source (1)

Sunmi is caught up in controversy after the NFT project she promoted made billions of KRW—only to lose most of its value, leaving investors frustrated.

According to Kyunghyang Shinmun on February 21, Sunmi, her agency, and a KOSDAQ-listed company launched the NFT collection Sunmiya Club in February 2022.

The project used blockchain technology to verify ownership of digital assets, turning illustrations inspired by Sunmi’s career into NFTs. Buyers were promised exclusive services to increase their investment value.

Thanks to Sunmi’s strong promotion, the NFTs were a huge success at first, selling out and making billions of KRW.

However, things took a turn when the NFT market crashed due to the Terra-Luna crisis and the bankruptcy of the U.S. crypto exchange FTX in late 2022.

By 2023, Sunmiya Club had stalled, and the once high-value NFTs dropped to just tens of thousands of KRW.

As investors faced major losses, some turned their frustration toward Sunmi. In response, the company behind the project stated, “We have fully followed the roadmap announced at the beginning and have continued operations.

The funds raised from the NFTs were used for operational costs and investments in a new platform launched last year.”

Despite the company’s defense, many are still questioning what went wrong and whether Sunmi will address the backlash.

Source: [1]