KUALA LUMPUR, July 13 — K-pop management agency YG Entertainment’s shares plummet by some seven per cent following reports that the contract renewal of Lisa of Blackpink is still in limbo.
The agency’s shares were traded at 73,900 won (RM267.64) at 2.41pm Korean time yesterday, CNBC reported, adding that the last time the stock was traded at its lowest was on May 11, when it closed at 66,700 won.
South Korean media Munhwa Ilbo had reported that Lisa could not agree on a contract extension with YG Entertainment.
The agency told another outlet Newsen that discussions were still underway although sources told Munhwa Ilbo that the differences between both sides were quite large.
Negotiations with the remaining three members of Blackpink are proceeding smoothly, added Munhwa Ilbo.
Blackpink has been one of YG Entertainment’s most successful K-pop groups.
The four member group consisting of Jisoo, Jennie, Rose and Lisa debuted with YG in August 2016.
Their seven-year contract is expected to expire in August.