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Boy group iKON has terminated their unique contract with label YG Entertainment in a mutual settlement, ending a seven-year partnership.

The six-member group — consisting of Bobby, Cha, DK, Jay, Ju-ne and Song — is not going to disband and may proceed to make use of present iKON social media for future engagement.

YG made the announcement on Weverse on Thursday, stating they two events “mutually agreed” to finish the contract after a “long and careful discussion.”

“We would like to express sincere appreciation to iKON for being with us as YG artist,” the company’s assertion learn. “YG Entertainment will always look forward to their activities in diverse fields and wish the best for the members in the future.”

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The group is reportedly in talks to signal with 143 Entertainment, based in 2020.

“Nothing specific has been confirmed yet. We are under discussion regarding various aspects,” a supply from 143 Entertainment stated in response to the reviews, in accordance with Soompi.

IKON first debuted as a seven-member group beneath YG Entertainment in 2015, with chief B.I. leaving in June 2019 after reviews of his drug use circulated.

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The departure of iKon caps off every week of reports for YG Entertainment.

Also on Thursday got here preliminary reviews from The Korea Herald and Okay-Pop Herald that BLACKPINK will function beneath The Black Label, a YG subsidiary label headed by the woman group’s principal producer and songwriter, Teddy Park.

The similar day, the label additionally introduced they may debut a new girl group subsequent 12 months.

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Earlier this week, Taeyang and Daesung of BIGBANG left YG following their contract expirations, with the previous signing with The Black Label. YG has stated they may welcome the members of BIGBANG for any future collaborations. BIGBANG member T.O.P. left YG in February.