YG Entertainment officially announced the departure of the 6-member boy group iKON after 7 years.

On December 30, the agency posted the announcement on social media:

"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 [accompanying] 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.

Thank you."

According to media outlets, members were considering signing with other agencies for individual activities and also eyes to establish their own label for group promotions.

iKON debuted in 2015 with 7-members including their former leader B.I., which is now promoted as a solo artist under IOK Entertainment.

The boy group last visited Manila on September 23 for Kpop Masterz 2 in Smart Araneta Coliseum in Cubao, Quezon City.