On October 27, DSP Media officially announced, 

"The contract with Rainbow, who've been with DSP Media for the past 7 years, is coming to an end on November 12, 2016. DSP Media had a thorough discussion about future promotions with Rainbow's Jaekyung, Woori, Jisook, No Eul, Seung Ah, Yoonhye, and Hyunyoung, and unfortunately, they decided to go their separate ways. We hope Rainbow will be remembered with a bright and positive image, like the 7 shining colors of a Rainbow. We will also support and encourage the girls' new promotions and futures. We sincerely appreciate those who loved Rainbow for the past 7 years. Please support for the members' new beginnings."

SEE ALSO: "It's bad..." The initial netizen reaction to 'Squid Game 2'

Good luck to Jaekyung, Woori, Jisook, No Eul, Seung Ah, Yoonhye, and Hyunyoung.