(L-R) Rosé, Jisoo, Lisa, and Jennie of BLACKPINK carry out on the Coachella Stage in the course of the 2023 Coachella Valley Music and Arts Pageant on April 22, 2023 in Indio, California.
Emma Mcintyre | Getty Pictures Leisure | Getty Pictures
Shares of Okay-pop company YG Leisure tumbled virtually 9% on Friday after South Korean media reported that Blackpink member Lisa has rejected a contract renewal supply from the company.
The share value tumble is YG’s largest one-day drop since September 28, 2022.
In response to South Korean information outlet Star Information, the Thailand-born member has rejected two affords from YG, with the scale of the contract reportedly value 50 billion South Korean received ($37.6 million).
In an announcement to South Korean media outlet TVReport on Friday, a YG spokesperson mentioned the corporate is “discussing renewing our contract with Lisa,” based on Google Translate. “The rumor has not been formally confirmed,” the individual added.
CNBC reached out to YG Leisure for remark, however didn’t instantly obtain a reply.
The newest growth follows stories earlier in July that Lisa has “not been capable of finding an settlement” relating to 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 have been underway, however outlet Munhwa Ilbo reported that “it’s identified that the distinction between the 2 sides is kind of giant.”
Blackpink — made up of members Jisoo, Jennie and Rosé, along with Lisa — has been one in all 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 most important 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 usually 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.