All seven members of the group BTS will be signing a second contract with their agency, HYBE (formerly Big Hit Music).
HYBE announced on the 20th, "We have obtained the board of directors' approval to renew the exclusive contracts of all seven BTS members under Big Hit Music."
Based on the board's decision, Big Hit Music will sequentially renew exclusive contracts with RM, Jin, Suga, J-Hope, Jimin, V, and Jungkook. This is due to some members currently fulfilling their military service obligations. It is confirmed that all members intend to renew their contracts, with only procedural details remaining.
HYBE stated, "We will individually and sequentially renew contracts, taking into account the military service commitments of some members." They added, "Members currently serving in the military will complete their service in 2025, coinciding with the start of the new exclusive contract period."
BTS, which debuted in June 2013, signed an early contract extension with their agency in October 2018, even before their initial exclusive contract period had ended.
With all members deciding to renew their contracts for a second time, the group will be able to continue their activities beyond 2025, when their military service will be completed.
BTS, celebrating its 10th anniversary this year, is widely recognized as one of the leading K-pop groups.
These pioneers of the "hip-hop idols" concept have rewritten the history of Korean pop culture, starting with becoming the first K-pop group to top the Billboard main album chart, "Billboard 200," in 2018.
HYBE Chairman Bang Si-hyuk, who discovered BTS, stated at the Kwanhun Forum in March, "We are proceeding with the contract renewal for BTS with great care due to their significant social impact." He added, "In the case of BTS, we have disclosed the contract period for transparency, and there is still time left. We will engage in discussions during this period, and it is respectful to the artists and their fans to have these conversations once all details are settled."
Since last year, BTS has embarked on the second phase of both group and individual activities. The members' solo endeavors have yielded impressive results, including topping the U.S. Billboard main singles chart, "Hot 100."
HYBE stated, "With the contract renewal, we will be able to fully support the activities of BTS as we envision in 2025," adding, "HYBE and Big Hit Music will provide unwavering support to further solidify BTS's position."
In the meantime, Big Hit Music has decided to donate 1 billion won to the Korean Committee of UNICEF as an expression of gratitude to BTS and their fandom, "ARMY." This donation will be made through the "LOVE YOURSELF" campaign initiated by BTS in 2017.
BTS Renews Exclusive Contracts: What Lies Ahead for the Global Sensation
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