Seulgi, a member of the girl group Red Velvet (Wendy, Irene, Seulgi, Joy, Yeri), has renewed her contract with SM Entertainment (hereinafter referred to as 'SM').
According to a Star News exclusive report on the 21st, it has been confirmed that Seulgi recently renewed her contract with SM.
Red Velvet made their debut in August 2014 and celebrated their 9th anniversary this year. According to the standard contract drafted by the Fair Trade Commission, the usual exclusive contract period for idol groups is up to 7 years. Although SM has not officially announced it, it appears that Red Velvet renewed their contract once in 2021. This recent renewal signifies a strong bond between Red Velvet and SM, especially as SM transitions to the "SM 3.0" era, moving away from the exclusive producing system led by Lee Soo-man and amidst the departure of many of their affiliated artists.
Recently, Sunny from Girls' Generation, who is Lee Soo-man's niece, left SM after 16 years. Super Junior members Kyuhyun, Eunhyuk, and Donghae also started a new chapter by not renewing their contracts with SM last month. In June, Kim Min-jong, who had a special relationship with Lee Soo-man and served as an outside director at SM C&C, parted ways with SM. Shin Dong-yup and Lee Hwi-jae also decided not to renew their contracts with SM C&C through amicable agreements.
Seulgi, a member of Red Velvet, released a new mini-album titled 'Birthday' in November last year.
Written by Lee Seung HunTranslated by Lee So Yun