AceShowbiz -

Will Girls' Generation renew their contracts with SM Entertainment? Rumor has it, the "All My Love Is for You" hitmakers are currently in talks with SM Entertainment as their exclusive contract recently ended.

SM Entertainment confirmed the reports with a statement, "It's true that we are currently in the process of renewing our contracts with the members of Girls' Generation. The majority of the members have already renewed their contracts and we are in talks with the remaining members."

An insider reveals, "Though we're still not sure if there will be any change, it seems as if they'll stay together as they've been doing well as a group for the past 10 years."

Girls' Generation debuted under SM Entertainment with their first single "Into the New World" on August 5, 2007. The group recently released their sixth studio album "Holiday Night" to celebrate their 10th anniversary.

Industry insiders believe contract renewals will go smoothly for Girls' Generation as the members have repeatedly expressed their love for their identity and how proud they are of staying together for 10 years.