Today (July 17), the K-pop agency clarified that none of the contracts for members of NCT are due to expire this year. This is despite the fact that 14 of them – namely Taeil, Taeyong, Doyoung, Ten, Jaehyun, Mark, Yuta, Winwin, Haechan, Renjun, Jeno, Jaemin, Chenle and Jisung – are nearing their seventh year in the industry.
Most K-pop artists sign seven-year contracts upon their debut, usually leading to speculation surrounding disbandments, renewals and agency moves in a group’s seventh year. However, a representative of SM Entertainment has told Herald Business that NCT’s contracts will only begin expiring at the end of 2024.
“At the time that NCT signed their contracts, we factored in elements such as their military enlistment and overseas activities, so their contract periods were set to be longer than the usual [seven years],” SM Entertainment said, per Soompi.
“Although there are differences between individual members, there is no member whose contract expires this year. All of the members’ [contracts] are set to expire starting from the end of next year or later,” shared SM Entertainment.
The other members of NCT –Johnny, Jungwoo, Kun, Xiaojun, Hendery and Yangyang – made their debut between 2017 and 2019. Their contracts are expected expire sometime between 2025 and 2027, based on the information SM Entertainment has shared.
In other K-pop news, YG Entertainment’s stock prices have reportedly fallen amid uncertainties over girl group BLACKPINK’s contract renewals. The quartet had debuted in 2016 under a standard seven-year K-pop contract.
While several news outlets have shared reports that certain members had yet to come to a agreement, or were unlikely to renew with YG, the agency has stated that “contract renewals are currently under discussion”.
Most other active K-pop groups that debuted in 2016, including WJSN, KARD, ASTRO and SF9, among others, have already finalised their renewals or departures from their agencies. CUBE Entertainment boyband PENTAGON have yet to share news on their future with the agency.