Exclusive - BREAKING: K-Pop Girl Group 2NE1 Disbands! Why? Find Out Here!

The famous K-pop group, responsible for the hits "Fire", "I Don't Care" and "I Am The Best", 2NEI1 has disbanded. 

According to the statement released by YG Entertainment, the disbanding of the group is because of problems with renewing the contracts of the members. 

Here is some excerpt of the statement: 

"2NE1's exclusive contract expired in May 2016, and with Minzy leaving 2NE1, we have come to the decision to officially disband after extensive discussion with the remaining members.

"As 2NE1 was YG's official girl group for seven years, we cannot begin to express how we feel, but we determined that it was too difficult to continue. Rather than waiting an unknown amount of time for 2NE1's next promotions, we have decided to focus on the members’ solo activities.

"We sincerely thank all the fans both in Korea and abroad that have loved the group and their music for all this time.

"We would like to officially announce that after last May, we resigned with CL and Sandara Park. However, unfortunately, there is no new contract with Park Bom."

Source: TNP, ABS-CBN