Actor Gang Dong-won and boy band iKON will be leaving YG Entertainment, the agency said Friday.

In separate statements, YG said that after discussion with both parties, they decided to end their contracts.

Gang signed under YG in 2016 and renewed his contract in 2020 and 2021. During his time with the agency, he starred in a number of films including “Master” (2016), “1987: When the Day Comes” (2017), “Peninsula” (2020) and “Broker” (2022).

Though Gang has not revealed his new agency yet, he is set to star in the upcoming film “Possession” as the protagonist, a fake exorcist, next year.

The same day, YG said that iKON, consisting of members Bobby, Jay, JUNE, Song, DK and Chan, will not renew its contract.

The band debuted in 2015 and has released hits “Rhythm Ta” (2015), “Love Scenario” (2018) and “Killing Me” (2018).

It hasn’t been revealed whether iKON is disbanding or finding a new nest, but YG asked fans to “look forward to its new beginning.”

A string of YG artists have been announcing their departure from the agency. Earlier this week, boy band Big Bang’s Taeyang and Daesung left YG, although the agency maintained that Big Bang will continue releasing music as a group.

BY SHIN MIN-HEE [shin.minhee@joongang.co.kr]