(Bloomberg) — YG Entertainment Inc. said all four members of Blackpink renewed their contracts with the K-pop agency, dispelling concerns over the band’s continuation after their terms expired in August.
Shares in the Seoul-based artist promoter rose as much as 29% on Wednesday, their biggest intraday jump in more than a decade. YG Plus, its content production affiliate, shot up by the daily limit of 30%. Blackpink plans a new album and a world tour with YG, the agency said in a statement.
“We are pleased to continue our relationship with Blackpink,” YG founder Yang Hyun Suk said in the statement.
Blackpink, Once a Novelty, Returns to Coachella as the Headliner
Blackpink, a four-member K-pop band that debuted in 2016, became the world’s most popular girl group with their songs setting records on the Billboard charts with hits like Shut Down and Pink Venom. The band became the first K-pop headliner at Coachella and their biggest global tour was sold out this year.
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