Korean girl group EXID will sign a memorandum of understanding with Chinese agency Banana Project in Shanghai on Jan. 11, according to Yedang Entertainment, the management agency of EXID.

Banana Project is owned by Wang Sicong, son of Wang Jianlin, chairman of China’s largest real estate developer Dalian Wanda Group.

Under the memo, Banana Project will manage EXID’s activities in China, although the specifics have yet to be negotiated, Yedang Entertainment said. The agency added that EXID will prioritize activities in Korea in 2016.

Producer Shinsadong Tiger announced on the band’s online fan community site the decision to relaunch “Up & Down,” EXID’s 2014 single that reached No. 1 on the Gaon Singles Chart four months after its initial release, in China with the help of Banana Project.

EXID released their latest digital single “Hot Pink” in November.

By Jung Eun-jin (jej2403@heraldcorp.com)