All BTS members renew contracts with HYBE: company

Since their debut in 2013, BTS have been credited with producing billions of {dollars} for his or her nation, in addition to boosting the picture and mushy energy of South Korea — now a world cultural powerhouse

SEOUL: All seven members of Okay-pop sensation BTS have renewed their contracts with company HYBE, the corporate mentioned Wednesday, with the group presently on “hiatus” as a few of them carry out South Korea’s obligatory navy service.

Since their debut in 2013, BTS have been credited with producing billions of {dollars} for his or her nation, in addition to boosting the picture and mushy energy of South Korea — now a world cultural powerhouse.

The Okay-pop juggernaut introduced a “hiatus” from group actions final 12 months and two members are presently endeavor their some 18 months of navy obligation.

Local studies have mentioned the band may reunite round 2025 when all of its seven members could have accomplished their service within the military.

“Our company has completed the Board of Directors’ resolution to renew the exclusive contracts of seven BTS members,” the band’s company, HYBE, mentioned in a regulatory submitting on Wednesday.

“This fact was judged to be a management matter that could affect the company’s financial status and investor decision-making and was therefore disclosed,” it added.

Since their debut 10 years in the past, the band had beforehand renewed their contracts with HYBE in 2018, which might have expired in 2024.

The firm didn’t disclose particulars of how lengthy the brand new contracts had been or after they would expire, however the newest announcement signifies that every one seven members of the group will possible stay with the label even after they’ve accomplished their navy service.

Some male Okay-pop stars have confronted challenges in resuming their careers after fulfilling their duties, in an intensely aggressive trade the place artists might be simply changed.

In March, Bang Si-hyuk, chairman of HYBE and the mastermind behind BTS, mentioned making BTS do their navy service was slowing the worldwide progress of Okay-pop.

All able-bodied males in South Korea should serve no less than 18 months within the navy and, after a years-long debate about whether or not BTS deserved an exemption, Jin, the oldest member of the group, enlisted final 12 months.

His bandmate J-Hope began his obligatory service in April. A 3rd member, SUGA, will start his service on Friday.

HYBE shares closed down 0.82 per cent in Seoul on Wednesday.

Okay-pop contract renewals might be advanced, with shares of BLACKPINK’s company YG Entertainment tumbling final week, after native media studies claimed member Lisa had rejected a renewal provide.

They subsequently bounced again, though the company has but to announce particulars of latest contracts for BLACKPINK — certainly one of Okay-pop’s most profitable lady teams.