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BTS-HYBE K-pop 'New World' in 2025
All members solo 'win to win'... They're done renewing the contract for the second time
All seven members of the group BTS have signed a second contract with their agency HYBE. With each member serving in the military and solo activities at the same time, group activities after 2025 have been confirmed.
HYBE announced on the 20th, "We have completed the resolution of the board of directors to renew the contract for the exclusive contract of seven artists BTS members of BIGHIT Music. We are planning to renew the contract with RM, Jin, Suga, J-Hope, Jimin, V, and Jungkook. It is known that all the members are willing to renew their contracts, and only procedural parts remain."
HYBE said, "We will sign contracts individually and sequentially in consideration of the military service performance of some members," adding, "Members currently serving in the military will complete their military service obligations in 2025 when the new exclusive contract begins."
In general, in the K-pop industry, renewal usually takes place on the 7th anniversary of the debut. This is because the contract period limited by the standard exclusive contract recommended by the Fair Trade Commission is up to seven years. In general, it is common for teams to be disbanded or scattered through solo activities of each member without exceeding the '7 years curse'. Longevity groups with more than 10 years of debut sometimes leave the company and create their own agencies.
Under these circumstances, this second renewal of BTS and HYBE has great implications. It is evaluated that the decision is based on trust between the agency, the artist, and the global fandom ARMY.
BTS, who debuted in 2013, originally renewed their first contract in October 2018. Unlike other agencies that start renewing their contracts just before the end of the contract, they introduced an early renewal system that can only be seen in professional sports a year earlier. The system also applies to each group of HYBE sub-labels, such as SEVENTEEN (Pledis Entertainment), leading to long-term K-Pop plans and the possibility of expansion.
Analysts say that BTS' second contract is an unusual result of the K-Pop world created by the strong support of HYBE chairman Bang Sihyuk, who is called the "BTS father," producer and performance director Son Sung-deuk, and the trust of the staff with the members over the years.
While renewing the contract, HYBE took a step that encompasses even the fandom ARMY. We decided to donate 1 billion won to the Korean Committee of UNICEF, specifying our appreciation for ARMY. In the process of discussing the renewal of the contract, the company's good influence was shown socially by integrating solidarity with artists and fandom.
Currently, BTS members are doing both military service and individual solo activities. In particular, the seven members recently entered the Top 10 as solo artists on the major U.S. Billboard chart Artist 100. Artist 100 is one of the Billboard charts that measures the influence and recognition of artists by combining usi and record sales. Starting with J-Hope, Jin, RM, Jimin, Suga (Agust D), and Jungkook, followed by V, the singles or albums released in turn, each produced good results on the British and American charts. Differentiated music, which was not shown during the previous BTS activities, is also drawing evaluations that it presents a new milestone in the K-pop solo category.
Initially, HYBE's concerns about BTS's hiatus have also been eased by the members' solo activities and other K-pop groups' strides. Overseas, BTS's individual activities are also being watched, and the participation of leading producers such as Grammy-winning composers is increasing. There are also expectations that a new chapter of K-pop will be opened, which is close to a global pop sound when the entire group is active after 2025.
Starting with the enlistment of the eldest brother Jin in December last year and J-Hope in April, BTS members are fulfilling their military service obligations one after another. Suga will receive basic military training on the 22nd and fulfil his military service obligations as a social service worker. As BIGHIT Music and BTS members aim for full-fledged activities in 2025, it is expected that other members will continue to fulfil their national defence obligations.
Source: http://www.newstomato.com/ReadNews.aspx?no=1202127&inflow=N
