Woollim Entertainment has confirmed the disbandment rumors regarding their girl group Lovelyz.

Shortly after rumors of the disbandment began circulating through Korean media, the agency released an official statement confirming the disbandment and providing more detail for fans.

The statement reads as follows:

"Hello, this is Woollim Entertainment.

This is our company's official statement regarding the expiration of Lovelyz's exclusive contracts.

The Lovelyz members' exclusive contract with our company is scheduled to expire on November 16, 2021.

After a long discussion and consideration, seven of the Lovelyz members (Yoo Ji Ae, Seo Ji Soo, Lee Mi Joo, Kei, JIN, Ryu Soo Jung, Jeong Ye In) have decided to prepare for a new start in a new position, and we decided to respect and support the members' decisions.

Out of the Lovelyz members, Baby Soul, based on the long-standing trust she built with us, renewed her contract. As assistants for Babysoul, who has been with us for a long time, we plan to provide full support for her new leap forward and [future] activities.

We would like to express our gratitude to the eight Lovelyz members who have given their best and brightened up the company as artists under Woollim Entertainment for the past seven years, and we sincerely support the members with their new start.

Also, we would like to express our sincere gratitude to all the fans who supported, cared for, and loved Lovelyz.

We ask that you continue to send lots of encouragement and support to the Lovelyz members who are at a new starting line, and we sincerely thank you for your warm love and interest in Lovelyz over the past seven years."

Meanwhile, as previously reported, Lovelyz debuted on November 12, 2014 with their first full-length album 'Girl's Invasion.' The group then went on to release a number of hits, including "Candy Jelly Love," "Hi~," "Joyland," "Ah-choo," "Destiny," "Twinkle," and "Obliviate." If Woollim Entertainment confirms the disbandment rumor, their final release together will have been their seventh mini album 'Unforgettable,' which was released in September 2020.