With the end of Baby J, Eunjung, and Semi's contracts, Yewon will be the only member to stay with the agency. Star Empire stated on January 7, "Jewelry's disbandment has been decided. Baby J and Semi's contacts have ended, and they've left the company. Yewon will remain with the company."
In terms of where Yewon's career is headed, the label commented, "We're leaving the options open. She'll be having individual activities such as acting and singing depending on her talents."
Jewelry originally debuted in 2001 with the song "I Love You" and went through a number of member changes. The 2013 track "Hot & Cold" was the last song to be promoted by a four-member Jewelry, which included Baby J, Eunjung, Semi, and Yewon.
[Update] Below is Star Empire Entertainment's official statement:
"Jewelry, who made an awesome debut in March of 2001 with 'I Love You', have been officially disbanded in January of 2015. We sincerely thank those of you who loved Jewelry and Jewelry's music for the past 14 years.
We ask that you give the Jewelry members who'll be having their individual activities a lot of love and support. Jooyeon and Semi, whose contracts have ended, have left Star Empire and plan to promote at a new agency. Yewon is planned to continue her activities with Star Empire.
Jungah, Seo In Young, Eunjung, Baby J, Yewon, and Semi got together for the first time in a while for a magazine photo shoot. Jewelry's final pictorial will be revealed in 'In Style's February issue.
To all the fans of Jewelry Box who loved Jewelry until now, thank you sincerely."