On December 30, YG Entertainment announced boy group iKON's departure from the label after 7 years.
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The agency stated on this day,
"Hello, this is YG Entertainment.
We would like to announce that after a long and careful discussion with iKON (Kim Jin Hwan, Bobby, Song Yun Hyeong, Koo Jun Hoe, Donghyuk, and Chanwoo), we have all mutually agreed to end the group's exclusive contract with respect to one another's opinions.
We would like to express sincere appreciation to iKON for being with us as YG artists. YG Entertainment will always look forward to the members' activities in diverse fields and wish the best for them in the future.
Also, we would like to deeply thank all iKONIC for accompany iKON on their journey. Please continue to send the iKON members your warm attention and support, as they are about to start a new phase of their journey.
Meanwhile, iKON debuted in September of 2015 with a pre-release single, "My Type". According to media outlet reports on this day, the members of iKON are currently considering various options for their future promotions, including finding new agencies for their individual promotions while also seeking out ways to establish their own label for group promotions.