Blackpink will change its management to The Black Label, an affiliate of YG Entertainment, according to industry sources.

On Friday, an industry insider told The Korea Herald that the four-piece girl group would leave YG to join The Black Label, and that discussions over the contracts were completed early this year. The Black Label is headed by Teddy, a creative director and songwriter who has worked with Blackpink since the group’s debut.

Formerly an in-house producer for YG, Teddy co-founded The Black Label in 2016 and has since produced and written songs for several YG artists such as Jinusean, Seven, Big Bang, 2NE1, Lee Hi, Blackpink and Jeon Somi. Taeyang of Big Bang also recently signed with The Black Label, saying his decision was based on his strong trust in the producer and their longtime teamwork.”

Asked about Blackpink joining forces with The Black Label, a YG official said, “There’s nothing I can confirm regarding the news. What I can say is that our contracts with the members have not ended yet. It's hard to confirm whether they will sign with The Black Label or not after their contracts end."

Industry insiders have been closely watching for Blackpink’s next step, as YG's contract with the group, which debuted in 2016, expires next year. The standard length of exclusive agreements between agencies and artists is seven years.

Blackpink released its second full-length album "Born Pink" in September, and is currently on a world tour, having recently finished the North American and European legs. The group is set to embark on the Asian and Oceanian sections of the tour next year.