SEOUL, Jan. 11 (Yonhap) -- Seven-piece boy band GOT7 will officially be leaving JYP Entertainment without renewing its contract, the agency announced Monday.
"JYP held in-depth discussions with members of GOT7 ahead of their exclusive contract termination on Jan. 19. As a result, the two sides agreed not to proceed with a contract renewal, hoping for a new future," the entertainment agency said in a statement.
JYP, led by K-pop guru and producer Park Jin-young, voiced gratitude to the band as well as its fan club "I GOT7" for their continued support since the group's debut. It also wished the seven members well for the future.
GOT7 -- a multinational act consisting of members Mark, JB, Jackson, Jinyoung, Youngjae, BamBam and Yugyeom -- officially debuted in January 2014. They've released hit tracks like "LULLABY," "Just Right" and "Hard Carry."