JYP Entertainment announced on July 12, “TWICE has renewed their contracts with all members ahead of the expiration of their exclusive contracts this fall.”
“TWICE, who played a decisive role in establishing the status of K-pop entertainment company JYP, and JYP, which has been a strong supporter of TWICE’s growth as a representative K-pop girl group, agreed to renew the contract with confidence in the future based on trust.”
In July 2009, the Fair Trade Commission established the standard terms and conditions of the exclusive contract for entertainers, including that exclusive contracts between entertainment agencies and artists do not exceed seven years. As a result, many groups were scattered without overcoming the crisis at the time of renewing their contracts seven years after their debut.
All members of TWICE have never left or moved to another agency since debut. It’s a rare case.