Shares of YG Entertainment drop 9% after BLACKPINK Lisa reportedly rejects contract extension worth $40 million

Shares of K-pop agency YG Entertainment dropped significantly by about 9% on Friday. This decision was made in response to media allegations in South Korean that Lisa, a member of the well-known group Blackpink, had turned down an agency offer to extend her contract. Notably, this decline in share price is YG Entertainment’s largest one-day decline since September 28, 2022.

Lisa, a Thai native, reportedly rejected two different contract offers from YG Entertainment, according to the South Korean news source Star News. According to reports, the worth of these bids was a substantial 50 billion South Korean won, or around $37.6 million.

BORN PINK Tour by BLACKPINK is over in South Korea.
Blackpink’s ‘Born Pink’ globe tour has come to a conclusion with their last performance in Seoul, South Korea. Fans from all around the globe attended the event, and some K-pop stars were seen taking in the performances.

BLACKPINK spent some time to speak with fans after the event, and Lisa’s expression at this time revealed a strong emotional response. The singer, famous for her popular song “Money,” tried to contain her emotions as she expressed her appreciation to the crowd. As a result, her admirers and devoted BLINKs showered her with messages of love and support on social media.

The seven-year agreement Lisa had with YG Entertainment had reportedly come to an end, and a proposal of almost $40 million had been made to extend it. Later reports, however, claimed that Lisa had turned down the contract extension. YG Entertainment quickly shot down this assertion and denied the claims.