Red Velvet also celebrated its 9th anniversary this year.
According to an exclusive interview with Korean media starnews, popular girl group Red Velvet member Seulgi has renewed her contract with SM Entertainment.
Red Velvet released their first single album “Happiness”in August 2014, and the team also celebrated the 9th anniversary of their debut this year. According to the standard contract established by the Fair Trade Commission, the exclusive contract period of an idol group is usually up to 7 years. From this, it can be seen that although SM Entertainment has not officially announced it, Red Velvet seems to have an action to renew the contract in 2021.
A contract renewal usually proves the strong relationship between the company and the artist, but this contract renewal between Sergi and the company has a special meaning. Because SM Entertainment announced the advent of the “SM3.0″era after breaking away from Lee Soo Man’s system, but because of this, some of its artists have left the company one after another, and the company is temporarily in an unstable state.
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