The news of former Lee Hi leaves YG Entertainment hit the waves on December 31.
Lee Hi fans, however, are calling it a New Year gift from their favorite singer. In the meantime, Lee Hi and YG Entertainment both have confirmed that they have parted ways.
In a statement, YG Entertainment said: "After discussions with Lee Hi, following Lee Hi's contract expiration, Lee Hi will not be renewing her contract with us."
Lee Hi has been with YG for the last seven years. She joined the label in 2012 after being featured on SBS "K-pop Star" Season 1 in 2011.
The South Korean entertainment company - YG Entertainment currently manages Big Bang, CL, Dara besides actors including Kang Dong-won, Choi Ji-woo, Cha Seung-won, Lee Sung-kyung, Nam Joo-hyuk, and Yoo In-na.
"We will continue to support Lee Hi's future endeavors who has been with us for the last 7 years and has been able to build her unique aura," the YG Entertainment said in the statement.
Lee Hi issues statement
The 23-year-old k-pop singer also issued a statement on Instagram where she revealed that she took the decision after long and hard thinking.
Lee Hi said that while she was leaving YG Entertainment with a heavy heart, she will be "prudent" before finalizing on her next agency.
She told millions of her fans that she will soon have "good news" for them.
Fans happy on Lee Hi leaving YG
Lee Hi fans have taken the news of the K-pop singer leaving YG entertainment with a relief as many noted that it was a good decision.
A Lee Hi fan said: "Her selling power was way to[o] high to stay in a company that barely allowed new music."
Another observed: "Good. I hope she finds an agency that actually helps her grow as an artist."
A Lee Hi even attacked YG: "After her initial release, she has gotten hardly any support and now they are refusing to release any music for her and also not letting her terminate her contract with them. They were essentially relying on her name value alone as an ex member of 2NE1 to carry her and hardly gave her any support outside of that."
