On January 6, boy band Bandage's agency IST Entertainment issued a statement notifying fans that Bandage have decided to part ways with the agency. 

According to the statement, the members and the agency had a serious discussion before they decided to terminate the contract. Despite so, the agency wish the three members all the best in the future endeavors. 

Earlier on, in April 2022, the band's bassist and keyboardist Lim Hyeongbin have also made a departure from the group, making the group a three-man band instead of its initial four.

The full statement reads:

"Hello.

This is IST Entertainment.

We would like to convey our sincere thanks for fans who have been supporting Bandage.

Though this news would come very sudden to fans, we would like to notify you about the termination of the members of Bandage's contract termination that was done back in December 2022 after a series of serious discussions.

Since the release of their first album in April 2020, in the period of two years and eight months they have been with us, we would like to convey our thanks towards Bandage for showing us emotional and cool music that were ever so innovative. Even with the termination of their contracts with our company, we still wish the three members all the best in their future endeavors.
With the new year, it signifies a new start for Lee Chan Sol, Kang Kyung Yoon, and Shin Hyun Bin. 

We would also like to ask for their fan's unwavering interest in them.

Thank you."

Wishing Bandage all the best in their future endeavors.