South Korean girl group Red Velvet, known for their chart-topping hits and vibrant stage performances, has recently found themselves at the center of disbandment rumors. As fans and industry insiders alike grapple with the potential end of an era, several critical points have come to the forefront, fueling the speculation.
Contract Renewals with SM Entertainment:
The foundation of the rumors lies in the contractual agreements between the members and their agency, SM Entertainment. A recent report from Star News highlighted that Irene, one of the group's members, might not be renewing her contract with the entertainment giant. While fellow member Seulgi has already recommitted to SM Entertainment, the group's future remains uncertain if even one member chooses to part ways. The report noted, "Of course, even if they leave SM, they can keep doing Red Velvet by adding a clause to maintain group activities, but this requires a strong loyalty that continues even without a beautiful breakup or renewal of contract with the original subsidiary."
Uncertainty Surrounding Upcoming Album Release:
Another point of contention is the group's previously announced third studio album, slated for release in the latter half of 2023. Initially, in August, the quintet had shared their plans for the new album. However, with Irene's potential departure from SM Entertainment, the fate of this project hangs in the balance. The group's ability to execute their original plans may be jeopardized if contract negotiations go awry.
The Advent of SM 3.0 and Artist Departures:
The landscape of SM Entertainment has undergone significant changes recently. With the resignation of its founder and former executive producer, Lee Soo Man, the company ushered in the era of "SM 3.0" under new leadership. This transition has seen several artists, including notable names like Kim Minjong, Super Junior's Kyuhyun, Eunhyuk, Donghae, and Girls' Generation's Sunny, parting ways with the agency. Amid these shifts, questions arise about Red Velvet's loyalty to SM Entertainment and whether they will choose to remain with the company or seek new avenues.
Adding to the concerns, the group's dedicated fanbase, ReVeluvs, has expressed dissatisfaction with the agency's handling of the group. In July, fans staged a protest in front of SM Entertainment's headquarters, voicing their concerns over the perceived mistreatment of Red Velvet members and the lack of promotional activities.
Currently, Red Velvet has been on a hiatus for nearly ten months since their last EP, "The ReVe Festival 2022 - Birthday." As the K-pop industry and fans await further developments, the future of one of its most beloved groups remains a topic of intense discussion and speculation.
