KARA's contract with their Japanese music label will officially end soon. The girls have experienced some explosive popularity in Japan, and according to a entertainment insider, KARA's contract with Universal Music Japan only requires them to release one additional album. Other rival labels who have gotten wind of the news are swiftly trying to seal a new contract with the girls. Hallyu management officials stated in detail, "Taking into consideration their fame in Japan along with their album sales to date, it would be easy for them to sign a contract for at least $8.5 million over three years". KARA is currently promoting in Japan under 'Universal Music Japan' but their contract with the music label will end early next year. Universal pitched an idea to KARA's agency DSP Entertainment, requesting to lengthen the contract for another year or two, and they're currently in negotiations. The details of their new contract have not been revealed, but those in both the Korean & Japanese Entertainment industry are fully aware that because KARA is the hottest Hallyu idol in Japan right now, their demands will most likely be high & specific.�Still, rival labels are making their best effort to offer KARA a better deal. They know the value of KARA in the Japanese entertainment market. Insiders believe that with their current status in Japan and the number of albums sold, they would require to be paid at least �$2.5 million per year.�"As a whole, their annual sales from Japanese promotions alone probably equal close to $42 million... A cool $2.5 million annually should be easy." But not only are the girls the hottest girl group in Japan, they hold the records for most albums sold by a Korean artist. Their singles "Jetcoaster Love" as well as "Go Go Summer" both sold over 200,000 copies, and their "Mister" ringtone were downloaded by 750,000 consumers back in March. Thus, the girls were given the label 'Triple Platinum' by the Recording Industry Association of Japan. The girls are constantly being asked to be featured on programs and guest-star on others, but they cannot accept all of the offers because they simply do not have enough time for all of them. KARA promoted their new track for three short weeks in Korea, but proved that was enough time for them to seize the #1 spot on several music charts. KARA's last performance was on SBS Live Inkigayo 'Go-green Concert with UN CCD'. They performed more ambitiously during this performance than any other, perfectly nailing their hip dance for their title track, "STEP". KARA's "STEP" was an all-kill, topping the charts of Mnet's M! Countdown as well as others. In the first two weeks of their comeback, their song was #1 on five different music programs. The girls have wrapped up their three-week promotions in Korea and are preparing for their next Japanese single. Their teaser for "Winter Magic" has already been released in Japan. Source & Image : Newsen via Nate