Global 'superstars' Blackpink have been causing a stir both locally and internationally with the news of their complete group renewal with YG Entertainment and the concurrent rumors of Jennie and V's breakup. International media have expressed relief over the group's continuation and analyzed the breakup of Jennie and V, attributing it to the enlistment of Korean male celebrities.
YG Entertainment officially announced on the 6th that they had signed an exclusive contract with Blackpink for group activities.
Upon this announcement, international media outlets heavily reported on Blackpink's contract renewal. CNN in the U.S. introduced Blackpink as "one of the most successful girl groups in the world since their debut in 2016" and noted that after their contract expired last August, fans feared the end of one of Korea's most successful music exports.
The BBC in the UK mentioned that the contract between YG and Blackpink is the most profitable of any signed this year.
They added that all members of Blackpink are in their twenties and wield tremendous influence, undertaking major fashion brand ads and headlining global music festivals like Coachella.
Reuters reported that YG's stock price surged nearly a third after announcing the re-signing of Blackpink members. Rumors about the contract had pressured YG's stock for months.
Indeed, YG's stock price skyrocketed following the news of Blackpink's contract renewal. According to the Korea Exchange, YG's stock closed at 63,000 won on the 6th, up 12,300 won (25.63%) from the previous day. Consequently, YG's major shareholder, producer Yang Hyun-suk's stake value increased by 387.6 billion won, reaching 1.9 trillion won.
Notably, this contract is limited to Blackpink's 'complete group activities.' YG commented, "Discussions about individual exclusive contracts are ongoing."
Previously, 'Sports Seoul' exclusively reported that some Blackpink members were in final discussions to conduct individual activities under their own agencies while committing to Blackpink activities for a certain period each year.
Billboard cited this report, stating, "YG renewed contracts with all four members of Blackpink, positively impacting YG's stock price."
Additionally, international media showed keen interest in Jennie and V's breakup. The pair had been dubbed 'unofficial global lovers,' spotted together in Jeju last May and in leaked dating photos at their homes.
In May, French freelance journalist Amar Taoualit released a video on his channel, stating, "The quality isn't great, but I definitely saw V and Jennie. They were holding hands and walking along the Seine."
At the time, Jennie was in Paris for the Cannes Film Festival for the HBO drama 'The Idol,' and V was also in Paris for a luxury brand event.
International media speculate that the breakup of Blackpink's Jennie and BTS's V is due to V's upcoming military enlistment on the 11th. However, like their relationship, both agencies have remained silent on the breakup.
