AceShowbiz -

Seohyun, Sooyoung and Tiffany (II) of Girls' Generation are leaving SM Entertainment. After long discussions with the agency about their contracts, the three members have decided not to re-sign with the company.

A source told Yonhap News on Monday, October 9, "Three members have decided to end their contracts. Girls' Generation will remain as it is as a team, but in the case of them being under different agencies, their participation will realistically become difficult. However, the members are still in discussion about what decision will be made."

Following Seohyun, Sooyoung and Tiffany's departures from the agency, there were speculations that the group would disband. Adding fuel to the fire was the fact that Sooyoung and Tiffany removed Girls' Generation from their Instagram bios.

Assuring fans that Girls' Generation is not disbanding just yet, SM said in a statement, "Girls' Generation is a group that is precious and meaningful to SM and their fans. The members also have no thoughts at all about disbanding. Simply, as there are members whose contracts have ended, a careful decision will be made after discussions with the members about Girls' Generation's direction for activities in the future."

Seohyun has also mentioned Girls' Generation on her Instagram bio again.

A so-called insider further dished on the reason of the three girls' departures. "The members thought a lot about their contract renewals. They decided to start a new beginning to experience new challenges. The members who didn't renew will continue to be active through acting," the source said.

Meanwhile, it's reported that Tae Yeon, Yoona, Hyoyeon, Kwon Yuri and Sunny have renewed their contracts.

It had been long rumored that Tiffany would likely not renew her contract with SM because she wanted to pursue her career as an actress and singer in the U.S. She reportedly also planned to study acting in the country.