(Photo by Emma McIntyre/Getty Images for Coachella)Shares of K-pop management agency YG Entertainment dropped almost 7% after reports emerged that the contract renewal for a member of girl group Blackpink is in doubt. YG shares traded at 73,900 Korean won at 2.41pm KST. At this level, the stock is at its lowest since May 11, when it closed at 66,700 Korean won apiece. According to an exclusive report by South Korean media outlet Munhwa Ilbo, Thailand-born member Lisa has "not been able to find an agreement" regarding a contract extension with YG Entertainment. Blackpink — made up of members Jisoo, Jennie and Rosé, in addition to Lisa — has been one of YG Entertainment's most successful K-pop groups.

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Persons: Jennie, Jisoo, Lisa, Emma McIntyre, —, Rosé, Lisa — Organizations: Coachella, Valley Music, Arts Festival, YG Entertainment, YG, 2.41pm, Korean, South, Munhwa, Munhwa Ilbo Locations: INDIO , CALIFORNIA, Indio , California, South Korean, Munhwa Ilbo, Thailand, Korean