According to an exclusive media outlet report on September 21 KST, Red Velvet's Joy is currently seeking a new management label ahead of her contract renewal with SM Entertainment.

Star News reported on this day that Joy recently held a meeting with an acting management label, leading to speculations that the Red Velvet member was planning to leave SME. 

Because all of the Red Velvet members debuted at different times, each of the members have different contract expiration/renewal dates. In fact, SM Entertainment refrained from making formal announcements regarding Red Velvet's exclusive contract statuses until last year, although the group's initial contract period of 7-years ended in 2021. It wasn't until August of 2023, when the label formally announced that Seulgi had chosen to renew her contract, that the matter of Red Velvet's contract periods was addressed by SM for the first time. The following February, Irene's decision to renew her contract was announced.

Meanwhile, on several occasions during Red Velvet's "Cosmic" promotions, Joy expressed her frustration toward SM Entertainment, claiming that "they don't listen to any of our requests." 

In other news, Red Velvet will be greeting fans with their 2024 fan-con tour, 'Happiness : My Dear, ReVe1uv' in Macau on September 28. 

SEE ALSO: "Loving you is the easiest thing we have ever done," Red Velvet spends another special night with fans at their 'Happiness: My Dear, ReVe1uv' fan con in Manila