Red Velvet's Irene is speculated not to renew her contract with SM Entertainment.

According to recent reports, Irene is rumored not to be renewing her contract with her longtime label SM Entertainment. Reportedly, this is why Red Velvet have not been active since June 2023, which is when they wrapped up their 'R to V' world tour. Further, only Seulgi's contract renewal was confirmed by the label, and it's expected the other Red Velvet members have varying contract lengths.

SM Entertainment has not yet commented on Irene, Wendy, Joy, or Yeri's contract terms, but the girl group did previously hint that they were preparing to release their third full album this past August during a live stream. 

Irene debuted as the leader of Red Velvet in 2014. Stay tuned for updates.