K-pop act BTS / Courtesy of BigHit Music
K-pop sensation BTS has once again renewed its contract with HYBE, the management company that has been representing the septet since its debut in 2013, marking a significant milestone not just for the band but also for the K-pop industry overall.
HYBE announced Wednesday that the contract renewal will allow the label to support the activities of the seven members once all of them complete their compulsory military service in 2025. It is the second time for the group to extend its contract with the company following the first renewal in 2018.
To commemorate this renewal and express gratitude to both BTS and its global fandom, ARMY, the agency has also pledged a donation of 1 billion won ($747,000) to the Korean Committee for UNICEF.
The latest news came as a blessing not only for BTS fans, but also for numerous K-pop industry insiders as they believe the contract extension has set a new example in the K-pop world, where many groups disband about seven years after their debut.
“BTS and girl group BLACKPINK are currently the two household names for K-pop,” Kim Jin-woo, head researcher at Circle Chart, which collates data to rank music releases, told The Korea Times.
“Considering their global clout and a trickle-down of benefits they give to their junior groups, the news about BTS' contract renewal must have delighted a lot of people in the music scene. It is particularly reassuring because BLACKPINK members have not yet revealed whether they would maintain their partnership with their agency, YG Entertainment.”
Echoing this sentiment, music critic Jung Min-jae said, “It is challenging for a high-profile K-pop group to stand the test of time, especially when each member has high brand value. This was the case of English-Irish pop boy band One Direction, which faded into history after reaching its peak. That's why I think BTS' contract renewal can become an exemplary case for other K-pop acts.”
Members of K-pop titan BTS pose with Jin, center, before he enters boot camp at Yeoncheon, Gyeonggi Province, Dec. 13, to start his mandatory military service. Captured from BTS' Twitter
In the K-pop universe, the so-called "seven-year curse" is a well-known phenomenon where groups often disband around the seven-year mark ― the longest possible single contract period between the members and the agency.
This year alone, several groups have faced contract expirations and subsequent disbandment.
Girl group Momoland, renowned for hits like "Bboom Bboom" and "BAAM," officially concluded its exclusive contract with MLD Entertainment in January, bringing its activities to an end.
In February, Brave Girls also failed to dodge the curse, revealing the termination of its contract with Brave Entertainment. However, the group made a fresh start under Warner Music Korea this summer.
Girl group WJSN also opted to keep going as an eight-member group, following the departure of members Luda and Dawon, who ended their seven-year contracts with Starship Entertainment.
In this context, BTS' second contract renewal breaks the daunting curse and offers a new narrative for the industry.
Experts point out that this feat was made possible due to the strong foundation of trust built among BTS, HYBE Chairman Bang Si-hyuk who created the group, the staff at HYBE and the BTS fandom known as ARMY.
"I believe the trust shared between the BTS members and Bang played a pivotal role in the contract renewal," Kim of Circle Chart said.
Highlighting Bang's faith in the members, Kim elaborated, “HYBE must have given a sense of comfort to the artists, enabling them to pursue their artistic visions without constraint. I believe the singers considered the fact that they could create music in a more unrestrained setting compared to establishing an independent label or transitioning to another company."
Jung believes ARMY was the big reason for BTS to continue its musical journey as a group.
"Although the current circumstances are preventing the members from performing as a team, they are driven by the anticipation of their devoted fandom, which yearns to see a BTS reunion," he said. "The BTS members must be eager to present their fans with a broader spectrum of themes and concepts, which they can explore after finishing their military service.”
As of now, two BTS members ― Jin and J-hope ― are performing their mandatory duty. Suga will start his service on Friday, and the remaining members ― RM, V, Jimin and Jungkook ― are set to follow suit.
All members of the Grammy-nominated act have been making waves as solo artists as well, with V selling 2 million copies of his solo album, “Layover,” during the first week of its release, according to local sales tracker Hanteo Chart.