Red Velvet Wendy-Yeri ends exclusive contract with SM...group activities will continue

Red Velvet's Wendy and Yeri have finalized their exclusive contract with SM Entertainment.

"We would like to inform you that the exclusive contract between us and Wendy and Yeri has been terminated," SM Entertainment said in an official statement on Thursday. "Since their debut as Red Velvet, they have been active as solo artists as well as a group, and the time we have spent with them has meant a lot to us. We cherish every moment with them and sincerely wish them a new beginning."

The agency continued, "We are happy to announce that the exclusive contract between Wendy and Yeri has ended."

While their agency contract has ended, the two will continue their activities as members of Red Velvet. "Wendy and Yeri will continue their group activities with us as members of RED Velvet," SM said, adding, "We look forward to their continued journey."

Yeri had hinted at the news of her contract termination on March 3, leaving a message on fan communication platform Bubble saying, "Tomorrow morning, there will be a news about my company, but I wanted to tell you first before the article, so don't be surprised."

Wendy and Yeri will be moving on to new endeavors in their respective roles, while Red Velvet's team activities will continue unchanged.