(L-R)
Rosé,
Jisoo,
Lisa,
and
Jennie
of
BLACKPINK
perform
at
the
Coachella
Stage
during
the
2023
Coachella
Valley
Music
and
Arts
Festival
on
April
22,
2023
in
Indio,
California.
Emma
Mcintyre
|
Getty
Images
Entertainment
|
Getty
Images
Shares
of
K-pop
agency
YG
Entertainment
tumbled
almost
9%
on
Friday
after
South
Korean
media
reported
that
Blackpink
member
Lisa
has
rejected
a
contract
renewal
offer
from
the
agency.
The
share
price
tumble
is
YG’s
largest
one-day
drop
since
September
28,
2022.
According
to
South
Korean
news
outlet
Star
News,
the
Thailand-born
member
has
rejected
two
offers
from
YG,
with
the
size
of
the
contract
reportedly
worth
50
billion
South
Korean
won
($37.6
million).
This
follows
reports
earlier
in
July
that
Lisa
has
“not
been
able
to
find
an
agreement”
regarding
a
contract
extension
with
the
agency.
At
the
time,
South
Korean
media
outlet Newsen
reported that
YG
responded
to
queries
by
saying
that
contract
renewal
discussions
were
underway,
but
outlet
Munhwa
Ilbo
reported
that
“it
is
known
that
the
difference
between
the
two
sides
is
quite
large.”
Blackpink
—
made
up
of
members
Jisoo,
Jennie
and
Rosé,
in
addition
to
Lisa
—
has
been
one
of
YG’s
most
successful
K-pop
groups.
The
news
comes
as
Blackpink
wraps
up
its
“Born
Pink”
world
tour,
in
what
has
been
described
as
the
largest
world
tour
by
a
K-pop
girl
group,
attracting
an
estimated
1.5
million
people
over
41
cities
since
it
started
in
October
2022.
Blackpink
will
hold
the
final
two
days
of
the
tour
on
September
16
and
17
in
Seoul.
The
four-member
group
debuted
with
YG
in
August
2016.
As
K-pop
groups
typically
sign
seven-year
contracts,
Blackpink’s
contract
was
expected
to
expire
in
August,
but
the
agency
has
not
confirmed
any
contract
renewals
with
any
of
the
members.
