Girl group Red Velvet’s member Seulgi continues her loyalty with SM Entertainment.
According to an exclusive report by Star News on the 21st, it has been confirmed that Seulgi recently renewed her contract with SM.
Red Velvet debuted in August 2014 with their first single ‘Happiness’ and celebrated their 9th debut anniversary this year. According to the standard contract set by the Fair Trade Commission, the typical exclusive contract period for idol groups is a maximum of 7 years. While SM has not officially announced it, Red Velvet seems to have renewed their contract once in 2021.
Ordinary contract renewals typically signify a strong bond between the agency and the artist, but Seulgi’s contract renewal with SM holds a significant meaning. After SM announced the departure from Lee Soo-man’s exclusive producing system and the ‘SM 3.0’ era, various artists under the agency have been leaving as Lee Soo-man stepped down.
On the 8th, Girls’ Generation’s Sunny, who is Lee Soo-man’s niece, left SM after 16 years. Super Junior’s Kyuhyun, Eunhyuk, and Donghae also embarked on a new start last month by not renewing their contracts with SM after 18 years. In June, Kim Min-jong, who had a special relationship with Lee Soo-man and was an outside director of SM C&C, a subsidiary of SM, parted ways with the company.
Shin Dong-yeop and Lee Hye-seong also recently decided not to renew their contracts with SM C&C after amicable negotiations.
Meanwhile, Red Velvet, to which Seulgi belongs, released a new mini-album ‘Birthday’ in November of last year.
Source: daum
