The Boyz have officially parted ways with IST Entertainment as of December 5 KST. 

On this day, IST Entertainment announced via The Boyz's fan cafe,

"Hello, this is IST Entertainment.

We express our gratitude to all fans who cherish and support The Boyz. 

We would like to deliver our official statement regarding The Boyz's exclusive contract expiration. 

After a long and serious discussion between the two sides, it has been decided that the exclusive contracts of The Boyz members Sangyeon, Jacob, Younghoon, Hyunjae, Juyeon, Kevin, New, Q, Haknyeon, Sunwoo, and Eric will conclude as of December 5 KST, based on mutual consent. 

We would like to take this opportunity to thank the members of The Boyz for their diligent promotions from  their debut in 2017 until now. Although our relationship with the members concludes as of today, we will continue to cheer on the group's future steps with sincerity. 

Please show The Boyz your unchanging love and support as they begin a new journey.

Thank you."

SEE ALSO: The Boyz's Sangyeon announces his enlistment in the ROK Army's military band