K-pop boy band iKON is leaving its current agency YG Entertainment as its exclusive contract has come to an end.

According to industry sources, the members of iKON -- Song, Jay, Ju-ne, Chan, Bobby and DK -- decided to not renew their contracts with YGt.

This comes seven years after their debut in September 2015.

The iKON members are currently looking for new agencies and at the same time are considering the option of forming an agency themselves to continue their careers together as a band.

Previously in November, the Korea Herald had exclusively reported that Bobby would not be extending his contract with YG.

An industry insider, who claims to be familiar with YG Entertainment and its artists, told the Korea Herald that Bobby has decided not to renew his contract but could not confirm which company the artist has or will be signing with next.

In May, other bandmates declined to confirm their plans to renew their contracts when the topic was brought up during a press conference.

"We have not discussed it with the company yet. Nothing has been decided in detail for now, but we will work hard for iKON and our music," the act's leader Jay said during a media showcase for the act's fourth EP "Flashback" held on May 3 at the agency's headquarters in Seoul.

Members of iKON were grouped together when they took part in Mnet’s idol survival program “WIN: Who is Next?” in 2013 as team B.

Later, they officially made their debut as IKON, on Sept. 15, 2015 with their song “My Type.”

They continued to make hits with songs such as “Killing Me,” “Love Scenario,” “Apology,” and “Rhythm Ta.”

In 2019, one of its members, B.I, left the group over drug-related allegations.