For a while now there were speculations that GFriend might leave its label. Following such reports, GFRIEND members are now parting their ways with the company as they fail to renew the yearly based contract with Source Music. The company has confirmed that the group will be leaving. For seven long years, it made songs under the same label.
An official statement has been issued to the Korean outlets. According to Source Music’s statement, the exclusive artist’s contract between GFRIEND and Source Music will expire on May 22, 2021. After careful consideration between the members and the company, all parties agree that it is best for the members to go their separate paths to continue to grow. “We would like to deeply thank all BUDDY and fans who have shown your love for GFRIEND, and we ask that you give your unchanging love and support to the members who will begin their adventures in new and diverse areas,” reportedly stated the label. As of now, there is no official confirmation if the members would disband or remain singing together in the future.
For the unversed, Source Music became a subsidiary of Hybe Corporation in 2019, which is also a home for Kpop band BTS.
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