The K-Pop group 2NE1 has officially disbanded, seven years after it was launched. YG, the agency managing the Korean pop sensation made the announcement, along with other updates on the stars they handle.

In the official statement released by YG, the management mentioned that the agency will no longer market 2NE1 as a group, NAVER TV reported. On May 5 of this year, the K-Pop girl band's contract expired. Since then, no developments have been made to push through with writing a new agreement.

Before the contract expiration six months ago, Minzy, one of the members of 2NE1, left the group. YG did not make any move to convince the singer to stay. The fate of the three remaining members (Sandara Park, CL and Park Bom) hang in the balance as the agency thought of plans for them.

Now, the wait is over. YG chose not to sign the three singers as a group. The statement of the talent management, translated in English, was posted in Soompi.

"2NE1's exclusive contract has expired in May 2016, and with Minzy leaving 2NE1, we have come to the decision to officially disband after extensive discussion with the remaining members," the statement said.

The management's announcement also mentioned how it will be difficult for everyone involved if the K-Pop group was given another contract. This is one of the reasons why the choice to disband is more ideal for everyone. Instead of promoting the members as a group, YG is now pushing through with their solo careers. After all, no activities are being offered to 2NE1.

Sandara and CL already signed solo contracts with the agency and it is busy obtaining activities for the former K-Pop group members. In the case of Bom, on the other hand, the management felt sorry that no agreement has been made between them and the artist.

YG is grateful to all the fans, who supported 2NE1 and their music in the group's seven years of music career.

Tags: 2NE1 2NE1 Disbands Sandara Park Solo Artists CL Solo Artist kpop