To date, in 2021 all Red Velvet members renewed their contract with SM Entertainment. Even though the music label was delayed in 2023, many speculated a deal could happen between groups that can be formed at successful levels.

However, Seulgi dispelled the disband rumors in 2023 by renewing his contract again. Irene looked like she followed along with her dreams to follow suit

Irene will continue her Blue Velvet journey as she renews his contract with SM Entertainment in 2024. The music label shared a statement in which the leader of his band encouraged her fans to always support Red Velvet.

The 29-year old singer wrote a statement from the movie producer who said that I renewed my trust for entertainment, and became connected with the company staff since start of music. I will impress with interesting activities this year while expressing gratitude for all fans of Red Velvet who supported the group.

SM Entertainment shared note, as well. We renewed the contract with Irene following [the new contract]Sugency on mutual trust and partnership grounds! We will support her in various ways so she can promote a much more active career as an artist. And please show you lots of affection and interest throughout the day ahead, bewildered!

Red Velvet – IRENE & SEULGI Episode 2 “IRENE”

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