Legendary Korean pop group BIGBANG renewed its contract with its current agency, YG Entertainment.
According to a report on The Korea Herald, the group's four remaining members -- G-Dragon, Taeyang, T.O.P and Daesung -- all renewed their contracts with YG.
This is the third time the group renewed its contract with YG since its debut in 2006. The group renewed its contract in 2011 and 2015.
YG Entertainment also said that BIGBANG is preparing for a new music release this year.
The group has been in hiatus as the members fulfilled their mandatory military service.
BIGBANG was set to perform in this year's Coachella Coachella Valley Music and Arts Festival in California in April. The music festival, however, has been rescheduled to October over coronavirus concerns.
BIGBANG was originally a 5-man group but member Seungri left the band and retired from the music industry in March after he was accused of sex bribery.
The group often topped the South Korean music charts and gained a huge following before members began to enter mandatory military service in 2017.