A recent market analysis report wagered that not all Blackpink members will renew their contracts with YG Entertainment and that the K-pop industry is unlikely to crumble down even if they choose to go their separate ways.

“The possibility of all Blackpink members renewing their contracts [with YG Entertainment] looks dim currently, though it is likely that Blackpink’s group activity will continue with some members extending their contracts,” Hyundai Motor Securities analyst Kim Hyun-yong said in a report Wednesday.

“It will inevitably be bad news for YG Entertainment unless it renews contracts with all four members.”

Kim expects Blackpink sales to drop by some 30 percent as a three-member group and more than 50 percent if two or more members discontinue their contracts.

He added that even under a worst-case scenario, the Blackpink issue will have a limited effect on the K-pop industry because the industry has grown enough to shake off risks spurred by top artists.

The Hyundai Motor Securities report comes a day after NH Investment and Securities blamed the dragging Blackpink drama for increasing market uncertainty.

“An official announcement of any kind will relieve the uncertainty and put the upcoming debut [of BabyMonster] on the calendar,” NH Investment & Securities analyst Lee Hwa-jeong said.

Lee pointed out that it is time for the parties to go public with their official plans rather than hinting at them via rumored schedules.

The reports come as rumors continue about Blackpink members declining to renew their contracts with YG Entertainment.

Members Jennie, Jisoo and Lisa are reportedly leaving the agency, although YG Entertainment and all four members have been keeping mum.

The Blackpink news has been driving YG Entertainment’s stock down, losing around 20 percent since the issue first came to light on Thursday.

BY SOHN DONG-JOO [sohn.dongjoo@joongang.co.kr]