Despite big plans for 2015, Big Bang and 2NE1's contracts are set to expire next year. But not all is lost, according to YG Entertainment's founder Yang Hyun Suk.

According to YGUnited, Yang revealed that the contracts of the respective members of Big Bang and 2NE1 will expire at the same time, and negotiations will occur then to renew their contracts.

"Big Bang and 2NE1's contracts will expire next year," said Yang. "The time frame to renew their contracts is the same for all the members within each group."

During the interview, Yang revealed that he would like renew the Big Bang members' contracts.

"We have been with Big Bang for nine years," continued the YG CEO. "My personal desire is to be with Big Bang for nine more. After the contracts expire, I want them to continue their activities with the renewal of their contracts.

Meanwhile, Yang also commented on 2NE1's contract expirations, which involves the issue of rapper Lee "CL" Chaerin's solo debut.

"CL's almost done with the album," said Yang. "Whether she will [succeed] or not is something that can only be known after she [debuts]. From my standpoint, we are proactively supporting CL's solo activities. I am planning the release of 2NE1's new album for after CL finishes her solo activities. 2NE1 will surely show you good work until the expiration of their contracts."

Reportedly, although 2NE1's contracts are valid until next year, CL has chosen to renew her own contract in order to secure her solo activities this year.

"CL, a member of YG's girl group 2NE1, is going to release an album in the US in the first half of this year, and 2NE1 will make a comeback in the second half," said analyst Jeong You Suk.

Big Bang is set to come back on May 1 with the tracks "Loser" and "Bae Bae."