What Happens When a Kpop Contract Ends
Basically, the seven-year curse concerns groups that decide to renew and terminate their contracts. However, on June 13, 2016, it was announced that the group would be officially dissolved after the expiry of the member`s exclusive contract with his management agency. Only Hyuna would extend his contract. GOT7 contracts expire in January 2021. Many fans have expressed dissatisfaction with the way the label has been treating GOT7 for some time, the fandom is preparing for the announcement, which will be unveiled later this month. The news of their dissolution came as no surprise, as members Jia and Min left the band in May 2016 and November 2017, respectively. The group officially disbanded on December 27, 2017. It was also announced that Fei extended his contract in May 2016 and Suzy in August 2017. Kpop is short for Korean pop, a great style of music that is booming all over the world. As there are many beginner idol groups trying their luck in this industry, there are older bands that have been disbanded due to the expiration of the contract. Woollim Entertainment`s first girl group contracts are also about to expire since they debuted in 2014. Budding K-pop idols, known as “interns,” sign contracts with management agencies when the intern is only 12 or 13 years old.  It can take ten years for an agency to prepare the intern and make his stage debut, according to the former head of the Korea Entertainment Law Society.
 Apprentices and K-pop idols who have made their debut usually live in dormitories where their management agencies control their diet, love lives, and behavior.   In most contracts, apprentices and K-pop idols are required to reimburse their management agencies for singing and dance lessons, wardrobes, and living expenses, among other things. As a result, K-pop idols cannot make big profits.  After seven years as a group, they decided not to renew their contracts with the agency and officially confirmed their dissolution in 2016. During their time as members of Rainbow, they produced hits like “A” and were active through a variety of individual activities. B such as show animation, acting, and promotion in a sub-unit. Before their dissolution, it was learned that the members had made a farewell trip to Southeast Asia. This can apply to both individual idols and groups. Soobeanie went on to say that when an idol is much more popular than the rest of the group, tensions can arise. Sometimes it results in other members having “much larger debts”; In other cases, popular members may think it is unfair that they have to share their individual profits with others.
Ultimately, this can lead idols to decide not to renew themselves. MamaMOO`s contracts have also been under discussion for some time; The members themselves even discussed it with the fans beforehand during a V-Live broadcast, stating that they didn`t have a definitive answer to give. LABOUM is another highly underrated female group that debuted in 2014; Their contracts expire again this year. The 7-year curse is a well-known term among K-pop fans. It refers to the seventh year of a K-pop`s tenure, during which many groups disbanded or left a member. There are quite a few bands that have disbanded in their seventh year, including 2NE1, Sistar and 4Minute. There are also bands that survive this curse and make a comeback, such as SHINHWA, BTS, F. T. Island and T-ARA. Here are some facts to help you learn more about the 7-year curse.
When contract renewal periods are extended, agencies often offer their artists much better contractual terms than they originally did. Whether it`s greater creative freedom or better profit sharing, these benefits are a way for agencies to convince their best artists to stay in the company. Most idol groups sign 7-year contracts with their agencies, when the extension negotiation period arrives, some idols choose to take a different path and others leave the group, and sometimes the agency decides with the group members to dissolve the group when each member has a different path in mind. However, Soobeanie says this is not always the case. In fact, many idols choose not to renew their contracts because their agencies have not offered them good enough contractual terms. A few days ago, it was also said that the youngest of the group, Yugyeom, would join AOMG, JYP also issued a similar statement in which they said that they were still negotiating contracts with the members of the group. Since the end of December, reports have been published about member Jinyoung, who had signed with an interim agency after his contract with JYP expired, at a time when JYP said they were still in talks. That`s when you see [the agencies] sweeping all the other idols under the rug. I think that`s one of the reasons why a lot of K-pop fans always say, “You deserve better.” Most idols sign seven-year contracts before their debut. The law that limits idolatry treaties to a maximum of seven years is not very old. In 2008, three TVXQ! Members Jaejoong, Yoochun and Junsu (JYJ) sued SM Entertainment for their 13-year contract, called a slave contract. The three left SM Entertainment, but were unable to assert themselves in the Korean entertainment industry.
Much of their success has since been in Japan. As a result of this case, the Korean Fair Trade Commission created a rule in 2009 that limited entertainment contracts to seven years. Many K-pop groups often take years to break even and therefore do not get their share of the profits from their songs until their intern debts are settled. The notable exception are the “Big 3” groups – SM Entertainment, YG Entertainment and JYP Entertainment. Interns from these three companies are paid immediately after their start and are usually not in debt at all unless they leave before their contract is concluded.  Although they stay with their agencies for several years, many K-pop idols don`t earn a single penny during their contract period, according to Soobeanie. Others barely earn enough to scratch the past. Today we are talking about the 6 Kpop bands whose contracts expire in 2021. However, groups like BTS are able to support themselves and their group solely on the basis of mutual trust and coordination.
BTS` relationship with their company, BigHit Entertainment, is completely transparent and the two entities are often mentioned as synonyms. Such consistency is exactly what keeps it together, or in other words, they are stronger together. In the case of EXO, they could be considered partial victims of the 7-year curse, as the group lost members Luhan, Tao and Kris before finishing 7 years. However, the group as such is still together and thriving. We can`t help but hope that it will stay that way for all of our favorite bands. A slave treaty (Korean: 노예 계약; Hanja: 奴隸契約; RR: noye gyeyak) refers to an unfair and long-term contract between Korean idols and their management agencies.   Over the past seven years, 2NE1 has been a representative group of YG. We, too, cannot express how upset and disappointed we are.
However, we believe it will be difficult to continue advertising. We decided that instead of looking forward to 2NE1`s unpredictable promotions, we should focus on members` solo promotions. We appreciate everyone who liked 2NE1 and its music. Meanwhile, YG extended the contract with CL and Dara in May. Unfortunately, we are officially announcing that Park Bom has not had a renewal. In the end, some idols don`t renew their contracts just because their agencies don`t want them anymore. While Soobeanie says it`s rare for companies to want to lose all the money and effort they put into an artist or band, they sometimes decide to let the idols go. Some reasons for this are the desire to invest in younger idols, instead of wanting to invest in actors, a bad financial situation and more. I`m sad when 2NE1 disbanded, but Blackpink makes me happy again, so Mino and Seungyoon have focused on solo activities for now. In 2021, their contracts also expire, fans are wondering if they will renew with YG or not. “As the contract end date approached, the members were in talks for an extension, but as the agency tried to convince them to continue the group, it finally accepted the five members` decision not to continue as a group.
Due to the different opinions of the members, the members will dissolve in all respects. On the 15th. In January 2016, DSP Entertainment announced that the contracts with Park Gyu-ri, Han Seung-yeon and Goo Ha-ra had expired and that they had decided not to renew their contracts. Kara has not officially announced the dissolution of her group. However, since all the members left the band and only Heo Youngji (who was still under contract with DSP Entertainment) stayed, we won`t see Kara anymore. According to the former idol, this is because companies tend to pay more attention to their “breadwinners” and give them better promotions. If an artist doesn`t get a lot of returns and promotions because they don`t make enough money, it can make them leave at the end of their contract. “Our contract with 2NE1 expired in May 2016, and when we were faced with a situation where Minzy is no longer with us, we finally came to a decision on the official dissolution of 2NE1 after a long discussion. In 2014, Nicole and Kang Jiyoung decided not to renew their contracts with DSP Media Entertainment. .