YG Entertainment, a prominent South Korean entertainment agency, experienced a significant setback as its stock price plummeted nearly 9% in response to reports that Lisa, a member of the globally acclaimed K-pop group Blackpink, had declined a contract renewal offer from the agency. This decline marked YG’s most substantial single-day stock drop since September 28, 2022.

According to South Korean news outlet Star News, Lisa, who hails from Thailand, turned down two contract offers from YG, with the reported contract’s value estimated at 50 billion South Korean won (approximately $37.6 million). This development followed previous reports from July, indicating that Lisa and YG had struggled to reach an agreement regarding a contract extension. At that time, YG acknowledged ongoing contract renewal discussions but conceded that significant differences existed between the two parties.

Blackpink, comprising members Jisoo, Jennie, Rosé, and Lisa, has been among YG’s most successful K-pop groups. The group recently concluded its “Born Pink” world tour, which garnered acclaim as the largest world tour undertaken by a K-pop girl group. It attracted an estimated audience of 1.5 million people across 41 cities since its launch in October 2022. The tour’s final two days are scheduled for September 16 and 17 in Seoul.

Considering that K-pop groups typically sign seven-year contracts, Blackpink’s contract was anticipated to expire in August. However, YG has not confirmed any contract renewals with the group’s members. This development has raised questions about the future of both Lisa’s career and Blackpink as a whole, leaving fans and industry observers eagerly awaiting further updates and announcements.

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