NewJeans Dropped As Models By Major Financial Firm

NewJeans has reportedly been dropped by a major brand as its advertising model.

According to industry sources, on December 13, KST, Shinhan Financial Group decided not to renew its advertising contract with the girl group. NewJeans have been serving as the brand’s official models for its integrated platform “SOL” since last year. It is being speculated that the decision was influenced by the growing conflict between NewJeans and their agency, ADOR, especially the recent unilateral decision by the group to terminate their exclusive contract with the label.

An official from the Shinhan Financial Group confirmed it with media outlets that the “Super SOL” brand advertising contract with NewJeans will not be extended once it ends in December. But the group will continue to model for Shinhan’s other subsidiaries where the contracts extend beyond this December.

Shinhan Financial Group launched its “Super SOL” app last year, which integrates the main functions of Shinhan Bank, Credit Card, Securities, Life, and Savings Bank apps into one platform. To unify their brand image, the affiliates collectively signed NewJeans as advertising models. While for Shinhan Bank and Shinhan Card, the contract period is till end of December, for Shinhan Investment and Securities, it extends to March of next year.

Given that NewJeans’ contract with the main affiliate is ending, it is unlikely for the other contracts to be extended.

Meanwhile, NewJeans’ recent public appearance after their contract termination announcement has become a hot topic online. Read more about it here.