The contracts of all four members of Blackpink have been renewed with their management company, YG Entertainment.

In a statement issued on Wednesday, the agency stated that “an exclusive contract for group activities based on strong trust” had been inked.

They promised that Blackpink would “repay their fans around the world with activities that match their global status in the K-pop scene with new albums and world tours.”

YG did not go into depth about the quartet’s pact.

Shortly after Blackpink’s contract renewal, the company’s share price soared by 20%, highlighting the South Korean girl group’s indisputable clout.

If Jisoo, Jennie, Rosé, and Lisa had elected not to extend their contracts, which were set to expire in August, they would have been free to pursue individual endeavors, including their music career.

On the same day as the contract renewal, the sisters revealed their first collaborative collaboration with a well-known Japanese modern and pop artist.

The news of the cooperation was accompanied by a visually appealing poster, which was shared on Blackpink’s official social media pages.

The limited-edition collaboration is set to be released on Friday, December 8, and will include products from both offline and online pop-up stores.