SEOUL• Big Hit Entertainment has denied a recent report that the agency and BTS have been in dispute over profit distribution and the renewal of a contract.

On Monday, broadcast station JTBC's News Room aired a report that said the band and the members' parents have been looking into taking legal action against the agency.

A few hours after the news was broadcast, the agency released a statement and said the report was groundless. "BTS and the members' parents are currently not looking into taking any legal actions against the company," the statement read.

According to the JTBC report, BTS members and their parents have objected to the terms of the group's exclusive contract renewed in October.

The agency said it has suggested that the members and their parents consult experts such as accountants and lawyers.

"As the amount of value BTS creates rises every day, it is natural for BTS as a team or as individuals to listen to outside experts' opinion," the statement read.

It went on to say that the legal consultation did not take place after BTS and the agency disagreed on the contract renewal, but instead happened before the discussion, to set "an exemplary contract renewal".

THE KOREA HERALD/ ASIA NEWS NETWORK