Members Wendy and Yeri of the group Red Velvet are leaving SM Entertainment. On the 4th, SM Entertainment announced, “The exclusive contract with Wendy and Yeri has ended,” adding, “We will cherish all the moments we have built so far and sincerely support Wendy and Yeri’s new beginnings.” SM Entertainment stated, “Wendy and Yeri will continue their group activities as members of Red Velvet with us,” and added, “We hope for much anticipation for the brilliant journey of Red Velvet that will continue to unfold.” They further expressed, “We deeply appreciate the endless love you have shown towards Wendy and Yeri, and we hope you will continue to show warm interest in the new challenges that the two members will undertake in their respective paths.” Below is SM Entertainment’s official statement. Hello. This is SM Entertainment. We announce that the exclusive contract between us and Wendy, Yeri has ended. The time spent with Wendy and Yeri, who not only engaged in group activities since debuting with Red Velvet but also shone as solo artists in various fields, was a great joy for us. Cherishing all the moments we have built so far, we will sincerely support Wendy and Yeri’s new beginnings. Additionally, Wendy and Yeri will continue their group activities as Red Velvet members with us, and we hope for much anticipation for the dazzling journey of Red Velvet that will continue to unfold. We deeply appreciate the endless love you have shown towards Wendy and Yeri, and we hope you will continue to show warm interest in the new challenges that the two members will undertake in their respective paths. Thank you. Soo-jin Lee, reporter sujin06@edaily.co.kr