iKON member Bobby’s agency, YG Entertainment, denied widespread rumors of the idol’s exit from the company and the band. Without going into much detail, the agency told a media outlet, Joy News24, that the rumors were false. They said:"The reports related to Bobby's contract expiration are false."This comes after KpopHerald exclusively reported on November 15 that Bobby will not renew his contract with YG Entertainment. The report was based on information obtained from an anonymous YG official.KpopHerald@Kpop_Herald[Exclusive] An industry insider told K-pop Herald that @YG_iKONIC's Bobby has not decided to renew his exclusive contract with @ygent_official. The insider added that many are keeping an eye on which company will be housing the rapper. #BOBBY #iKON60863091[Exclusive] An industry insider told K-pop Herald that @YG_iKONIC's Bobby has not decided to renew his exclusive contract with @ygent_official. The insider added that many are keeping an eye on which company will be housing the rapper. #BOBBY #iKON https://t.co/ezt6M1cyTY'Rumor is groundless': YG official dismisses Bobby's contract expiration rumorsAmid widespread speculation in the online community regarding the rapper's exit from the agency and iKON, a YG official told Newsen, the rumors were groundless. The official said:“The rumor is groundless. There is still time left on his contract"The YG official, however, did not comment on when Bobby's or the rest of the iKON members' exclusive contracts will end or if they have any plans to renew them.bobby's 😼 honey@8o88icYG Entertainment will get hit if they lose #BOBBY in terms of rap/hip-hop credibility, live performance superiority, true swag and stage presence prestige, unique and bona fide artistic notoriety, in-house top-class mentoring, out-of-this world hype man, and evergreen legacy. twitter.com/saintbobbys/st…알@saintbobbysYG denied bobby leaving YG rumors within an hour lmao they know what losing bobby will do to their company 🤣311YG denied bobby leaving YG rumors within an hour lmao they know what losing bobby will do to their company 😭🤣YG Entertainment will get hit if they lose #BOBBY in terms of rap/hip-hop credibility, live performance superiority, true swag and stage presence prestige, unique and bona fide artistic notoriety, in-house top-class mentoring, out-of-this world hype man, and evergreen legacy. twitter.com/saintbobbys/st…Meanwhile, neither Bobby nor the group's members have reacted to the incident. However, during a press conference for their fourth mini-album Flashback, in May, they said they were yet to discuss their contracts with the agency. They noted:"We haven't talked about that with the company yet. Although nothing has been specifically decided, of course, we will work hard for our album and iKON."As per the Korea Fair Trade Commission (KFTC) rules, artists can be contractually signed to their companies for a maximum period of seven years, after which the contracts have to be renewed. Since Bobby debuted as a part of iKON in 2015, his contract with the agency is set to expire in the coming months.iKON's 'genius' BobbySedra@Sedra192Daamn bobby participated in writing all the songs, wrote one all by himself (dragon) and another together with donghyuk.. man is a writing genius #iKON #BOBBY #바비 @YG_iKONIC477243Daamn bobby participated in writing all the songs, wrote one all by himself (dragon) and another together with donghyuk.. man is a writing genius 😳🔥 #iKON #BOBBY #바비 @YG_iKONIC https://t.co/mJ89E3IYnrIn 2015, Kim Ji-won aka Bobby debuted as a rapper for iKON with members Jay, Song, DK, Ju-ne, Chan, and former member B.I. Since then, the idol has been best known for winning Mnet's survival show Show Me The Money 3, producing some of the group's songs, and delivering impactful performances.Bobby co-wrote the lyrics for all six tracks on the group's fourth mini-album Flashback and even helped other members in composing the tracks.iKonics took notice of the singer's contribution to the album and showered praise on him, calling him a "genius". They noted:"Daamn bobby participated in writing all the songs, wrote one all by himself (dragon) and another together with donghyuk.. man is a writing genius.”Amid rumors, iKONICS tweeted "In Bobby we trust"송하 ◡̈@hoengdanbodoin bobby, we trust3in bobby, we trust https://t.co/doWvdY2nPwThe phrase 'In Bobby, we trust' started trending again, amid rumors of his exit from the group. Some fans reacted by showing their support for the artist and hoped he would continue solo, while others said they would wait for an official confirmation of the news.𝑱𝒂𝒏𝒆~♡@janbiniexxNotice how iKONICs react when the rumours started before YGE denies it their statement, most of us accept it immediately because we know how mistreated bobby is in that company. Yes most of us panicked but I love how we trust bobby and support his decision no matter what.Notice how iKONICs react when the rumours started before YGE denies it their statement, most of us accept it immediately because we know how mistreated bobby is in that company. Yes most of us panicked but I love how we trust bobby and support his decision no matter what.little rockstar 😎@G_nytie@ikonida that feeling like you really know the person even if you're not close with him. That's what I'm feeling rn towards bobby. In Bobby, we trust 10@ikonida that feeling like you really know the person even if you're not close with him. That's what I'm feeling rn towards bobby. In Bobby, we trust ✨z@ikonida@HoneyBe05797853 it’s still a rumor, the news came from an industry insider13@HoneyBe05797853 it’s still a rumor, the news came from an industry insider https://t.co/qdUKYck0JKMeanwhile, the 26-year-old recently deleted all of his posts except one, unfollowed all iKON members, and made his account private on Instagram, sparking further speculation into the matter.