Lee Hi has written a letter to fans after the news she's leaving YG Entertainment.

On December 31, YG Entertainment announced Lee Hi would not be renewing her contract with the label, and the singer-songwriter took to Instagram to leave a letter to her fans. She wrote:

"Hello, everyone. This is Lee Hi.

I'm here to greet you with news that is new and a little unfamiliar on the last day of 2019. At the end of this year, I'll be leaving the YG nest, a place I've been with for a long time.

As we've spent so much time together, I have so many memories when I look back. At 16 years old, I went to audition with a dream that was so big that it almost appeared reckless, I was able to join YG, an agency I looked up to when I was younger, and with the help of great people, I completed and released my first single '1.2.3.4' and album 'First Love'. The memory of my first day in the recording studio and being amazed at hearing my own voice. That October, when I was monitoring the album I'd released with a racing heart. Everything is still fresh like it happened yesterday.

Even when I was just starting as a singer, I thought time was going by so fast, and now I've gone from one to three albums. I was 17 years old, and I'm now 24. It still feels like time is going by so fast, and though I feel a little sad, those times have also remained as precious memories I'll never forget. 

Of course, it wasn't always easy, but I think I was actually quite lucky in a lot of ways. The staff, who always worked hard for me behind the scenes and who are like old friends and family to me, and the amazing things we built together will be something I'll never forget.

As this is a decision I made after a long time of thinking, I want to sincerely thank the many people at YG who supported my decision and new start, and I'll do my best to repay everyone with better music. As I'm leaving the agency I spent 8 years with, which is a long time, and was there for growth, I'll be even more careful about choosing my next agency, and I hope to greet you soon with good news.

I hope the new year will be filled with even better things."