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They denied the numbers which might be being circulated.
On March 22, KST, YG Entertainment (hereon, YG) clarified by way of an announcement that the speculated excessive contract renewal payment of the BLACKPINK members was not correct.
Recently, the Financial Supervisory Service’s digital disclosure system enterprise report revealed that YG had acquired roughly ₩41.2 billion KRW (about $30.6 million USD) in unique downpayment for intangible belongings in 2023.
Usually, the downpayment of an artist’s unique contract is taken into account an intangible asset for leisure firms and acknowledged as an expense by making use of a flat-out price methodology in accordance with the contract interval. So, after the report revealed YG’s intangible asset acquirement triggered speculations that the cash was paid to BLACKPINK members for the contract renewal, with every member being paid round ₩10.0 billion KRW (about $7.44 million USD).
However, YG defined that the cash was not solely spent on BLACKPINK. A consultant from the corporate informed the media that final yr, they renewed a number of IP contracts and signed new ones, which have been all included within the expense. YG stated that although they couldn’t reveal the small print concerning the BLACKPINK contract, they may verify that your complete quantity was not for this goal alone.
Meanwhile, all 4 members of BLACKPINK renewed their group contract with YG final yr, whereas they determined to handle their solo careers individually.
BLACKPINK
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Content Source: www.koreaboo.com