On March 22, KST, YG Entertainment (YG) took a proactive step to address the swirling speculations surrounding the reported hefty contract renewal fees allegedly offered to the members of BLACKPINK. The statement aimed to clarify misconceptions regarding the astronomical figures that had surfaced recently.

Speculation arose from the disclosure of financial information through the Financial Supervisory Service’s electronic disclosure system business report. The report revealed that YG had accumulated a substantial sum of approximately ₩41.2 billion in exclusive down payment for intangible assets in 2023. This led to speculations that the funds were disbursed to BLACKPINK members for the renewal of their contracts, with each member allegedly receiving around ₩10.0 billion.

However, YG swiftly moved to dispel these notions, asserting that the reported sum was not exclusively allocated to BLACKPINK. A spokesperson for the company clarified that over the previous year, they had engaged in the renewal of multiple intellectual property (IP) contracts and the signing of new ones, all of which were encompassed within the reported expenses. While specific details regarding the BLACKPINK contract were not disclosed, YG confirmed that the entire sum was not earmarked solely for this purpose.

“Last year, there were renewals and new contracts not only for BLACKPINK but also for many other intellectual properties. Although we cannot disclose all contract details, the reported amount cannot be considered as a down payment solely for BLACKPINK,” a YG representative told Yonhap News in response to queries.

This clarification from YG Entertainment underscores the complexities involved in interpreting financial disclosures within the entertainment industry. While the reported figures may have sparked speculation, it is essential to consider the broader context and the diverse range of contracts and agreements that contribute to these numbers.

As fans await further updates regarding BLACKPINK’s contract negotiations and future endeavors, YG’s statement serves as a reminder to approach such news with caution and a critical eye, ensuring accurate understanding and interpretation.