IST Entertainment Responds to Rumors of THE BOYZ Departing Agency: “Not Expired Yet”

On Monday, September 23, 2024, the Korean media outlet Ten Asia reported that THE BOYZ are considering leaving IST Entertainment after their exclusive contract with the agency ends. Their agreement with Kakao Entertainment’s subsidiary IST Entertainment is set to expire in mid-December 2024.

According to the report, the K-pop boy group is exploring new opportunities. However, Ten Asia noted that the members of THE BOYZ remain committed to staying united as a group despite the impending contract expiration. They are reportedly excited about continuing their activities and promotions together.

Following the news, IST Entertainment issued a response, clarifying that no final decisions have been made regarding the group’s departure. The group’s exclusive contract remains active, and discussions about the contract’s upcoming expiration are ongoing between the agency and the members.

The agency’s statement to Xport News stated:

“The exclusive contract with The Boyz has not expired yet. We plan to continue discussions with the members.”

Everything You Need to Know About THE BOYZ’s Possible Departure from IST Entertainment After Contract Expiration

After Ten Asia’s report on September 23 indicating that THE BOYZ might leave IST Entertainment, the agency confirmed that discussions are still in progress. The report also pointed out that the group’s agency change is driven by their desire to fulfill their musical vision and the need for a transparent system.

Furthermore, Ten Asia has noted that there are rumors of THE BOYZ reaching out to various agencies regarding contract renewal and that they are in the final stages of negotiating an exclusive contract with one of these companies. The report also confirmed that it is permissible for the K-pop boy group to contact other agencies.

With approximately three months remaining until their contract with IST Entertainment ends, the Korea Entertainment Management Association views this as non-tempering of an exclusive contract. Thus, K-pop groups and idols are allowed to approach other agencies within three months of their contract’s expiration.

Additionally, the future of the group’s name, THE BOYZ, has become a significant topic of discussion. As the trademark rights to the name are held by IST Entertainment, there may be implications for the group continuing to promote under that name. However, if IST Entertainment permits the members to retain the name after leaving the agency, they can continue to operate as THE BOYZ.

In other updates, the K-pop group is preparing for a comeback at the end of October, with details yet to be announced. Recently, the members released their second full-length album, PHANTASY Pt. 3 Love Letter, in March, featuring the title track “Nectar.”

Moreover, the members are also concluding their third world tour, THE BOYZ WORLD TOUR: ZENERATION II, which kicked off in July 2023 at the KSPO Dome in Songpa-gu, Seoul.

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