SEE ALSO: Renowned yoga instructor Lee Yoo Joo, from 'Infinite Challenge' passes away at 35

The duo had previously announced their decision to leave back in 2012, but they later decided to stay on with the agency. However, it seems their contract has once again expired and negotiations to re-sign doesn't seem too likely, according to music industry insiders and a few agency reps.

One Core Contents Media rep told Xports News on the 28th, "Davichi's contract has come to its expiration date... We are currently in talks with Davichi on possibly renewing their contract."  Backing this up was another rep, who stated, "Davichi's contract has expired so we're currently negotiating with them... Nothing has been confirmed yet."

However, another rep from the agency stated, "Davichi's contract has expired and their contract renewal does not seem likely." An agency rep that spoke with Sports Seoul also remarked, "CEO Kim Kwang Soo tried to resign Davichi, but it didn't work out."

It has been revealed that Davichi's contract expired on February 23, so the ladies are currently free agents and have the option to renew with the agency they've been with since 2008, or leave for another.