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On Monday, September 23, 2024, the Korean media outlet Ten Asia reported that THE BOYZ are reportedly planning to depart IST Entertainment following the termination of their exclusive contract with the agency. The group's contract with Kakao Entertainment's subsidiary agency, IST Entertainment, will expire in mid-December 2024.
In light of this, the news report expressed that the K-pop boy group might be looking for a new home. On the other hand, Ten Asia also reported that the K-pop boy group's interest in staying together as THE BOYZ has not been affected by the upcoming contract expiration. The members are allegedly looking forward to continuing activities and promoting themselves together.
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After the report's release, IST Entertainment released a response statement, expressing that no conclusions regarding the group's departure from the agency had been made yet. Their exclusive contract is still intact, and therefore, the agency and the K-pop boy group's members have been discussing the details regarding the upcoming contract expiration.
The agency's statement to Xport News read,
"The exclusive contract with The Boyz has not expired yet. We plan to continue discussions with the members."
All you need to know as THE BOYZ are reported to leave IST Entertainment following their exclusive contract expiration
After Korean media outlet Ten Asia's September 23 report on THE BOYZ allegedly leaving IST Entertainment, the agency revealed that discussions are still ongoing. The news report also stated that their plan to change agencies is due to their desire to satisfy the group's musical vision and the necessity of a transparent system.
Additionally, Ten Asia reported that there are rumors the K-pop boy group has already contacted several agencies regarding their renewal and is also in the final stages of signing an exclusive contract with one of the companies. Moreover, Ten Asia also confirmed that the K-pop boy group contacting other agencies is allowed.
Since the group is about three months away from their contract expiration with IST Entertainment, the Korea Entertainment Management Association doesn't consider this as the tempering of an exclusive contract. Therefore, K-pop groups and idols can contact and reach out to other agencies within the three-month mark from their contract expiration.
On the other hand, the group's name has been a topic of discussion following the news regarding their possible change in the agency. Since the trademark rights of the group's name, THE BOYZ, belong to IST Entertainment, the group might not be able to promote under the same name. However, if the company allows the members to use the name even after they depart from the agency, the group can continue as THE BOYZ.
In other news, the K-pop group has been gearing up for a comeback at the end of October. However, details yet to be revealed. Regardless, the members released their second full-length album, PHANTASY Pt. 3 Love Letter, in March, which held the song Nectar as its title track.
Additionally, the members will soon be wrapping up their third world tour, THE BOYZ WORLD TOUR: ZENERATION Ⅱ, kickstarted in July 2023 at the KSPO Dome in Songpa-gu, Seoul.
