GFRIEND officially leaves Source Music, its agency for six years, after a failed negotiation for contract renewals. The six-member girl group's departure was initially not confirmed as it was said the two camps are still negotiating but it was later announced that the band's exit is final.

Source Music, an agency that is now under HYBE, formerly Big Hit Entertainment, released an official statement regarding GFRIEND's contract and this was published by Newsen. On May 18, the agency affirmed that the band's exclusive contract will end on May 22 and there will be no extension.

"After careful consideration and in-depth discussions, GFRIEND and our company have agreed to go separate ways and continue with our respective growth," Source Music stated. "We would like to express our sincere gratitude to GFRIEND who has been with Source Music for years.

The agency also asked the fans to continue supporting the members that include Sowon, Yerin, Eunha, Yuju, SinB and Umji as they start a new chapter in their careers in different fields. Source Music added it will always support the six ladies as they take a step to a better future.

Prior to the confirmation of GFRIEND's non-renewal of contract with its agency, Tenasia released a report that suggested the group is disbanding. As the members are not able to sign a new deal with their label, the outlet stated that the situation could only result in disbandment.

However, Source Music did not mention anything about the group's break up so there is still a chance they could continue performing together if they could strike a good deal from other companies. In any case, at this point, the future of GFRIEND is still uncertain as there is no word from the members as to how they will proceed when their contracts terminate on the 22nd.

GFRIEND debuted on Jan. 15, 2015 with Seasons of Glass album featuring Glass Bead as its title track. The band's last comeback was in November 2020 with the release of its third full-length album called Walpurgis Night.

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