Bobby From iKon Apparently Won’t Be Renewing His Deal With YG, But The Agency Denies This

According to Soompi today, Nov. 15, YG Entertainment has now spoken out to refute speculations that iKon member Bobby will be departing the agency.

“The rumor is groundless. His contract is still in effect,” the organization said in a statement.

At the time of this writing, Bobby’s current contract is scheduled to expire, and YG declined to say whether there have been discussions about extending it. This new information was revealed following rumors that he would be leaving the agency.

Bobby of iKon reportedly did not want to renew his exclusive deal with YG Entertainment, according to industry sources on Tuesday. The Korea Herald was informed by an insider in the business who claimed to be familiar with YG Entertainment and its musicians that Bobby had decided not to renew his contract but who was unable to identify with whose organization the artist had or will be signing next.

Bobby made his iKon debut in September 2015. The members of iKon have either reached the end of their exclusive contracts with YG Entertainment or are about to do so, as the Fair Trade Commission’s regulations only allow artists to sign contracts with agencies for a maximum of seven years. The agency chose not to issue a formal statement on the matter to the aforementioned media outlet.

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