***** UPDATE *****
It appears that the reports of Rainbow's disbandment are unfortunately true.
Following news of Rainbow's members not renewing their contracts with DSP Media, the agency have now released an official statement confirming that the group will indeed disband and that despite negotiations regarding their future, the members "have decided to go their separate ways".
DSP further added“We hope that like a rainbow that shines bright anywhere, the members will be remembered for their bright, positive image and that people will continue to send their wholehearted support and encouragement for their future activities.”
With that statement, Rainbow will disband mid-November when their contracts expire. We wish the members of Rainbow well, and we'll support them all in whatever they do in the future!
It looks like it's the end of another girl group in 2016.
According to new reports from Joynews24, Rainbow's leader Jaekyung and fellow member Jisook have decided to not renew their contracts with DSP Media, the group's agency. As for the other members, Woori is currently filming a drama but is reportedly not going to re-sign with the agency, and the remaining members will soon relay their decision to DSP.
With the departure of at least two Rainbow members, it is unlikely that the group will continue on.
In response to these reports, a DSP Media representative has stated to Sports Chosun that it is too early to discuss anything about Rainbow's future. The rep says that Rainbow's current contracts will end mid-November and negotiations will begin around that time.
Rainbow first debuted in 2009 and their latest album was "Prism", which was released in February. Stay tuned for more updates and announcements regarding Rainbow's contract negotiations.