Golden Child will be moving on as a 7-member group.

On August 27, Woollim Entertainment announced the label renewed exclusive contracts with Lee Jangjun, Bae Seungmin, Bong Jaehyun, Kim Donghyun, and Hong Joochan, and they'll be continuing on as a member of Golden Child along with Lee Daeyeol and Y. However, TAG, Kim Jibeom, and Choi Bomin have decided to part ways with the agency, and they will no longer be active with Golden Child.

Woollim Entertainment stated, "Accordingly, Golden Child (Lee Daeyeol, Y, Lee Jangjun, Bae Seungmin, Bong Jaehyun, Kim Donghyun, Hong Joochan) will continue their activities as a 7-member group and will meet fans through group and individual activities."

Check out Woollim Entertainment's full statement below.

SEE ALSO: This trainee was rumored to debut every time a new rookie girl group launched over the past three years