After seven years, IU is staying on as the darling of Loen Entertainment.

Korean soloist IU renewed her contract with her current agency, Loen Entertainment, prior to her current contract's expiration in September. The new contract will extend IU's term at Loen Entertainment for another three yaers.

On June 3, Loen Entertainment announced the contract extension and revealed that IU did not accept a signing bonus from the company thanks to the mutual trust and faith shared by both parties throughout the past seven years, reports eNews.

"We see this recent re-signing as an opportunity to strengthen each other′s partnership," said Jang Hyun Jin of Loen Entertainment′s production operations division. "We will support IU materially and emotionally so that she can grow to become a global star."

IU began as a solo singer under Loen Entertainment in 2008, but it wasn't until her 2011 hit "Good Day" propelled her to K-pop royalty. Since then, she has released numerous hits including "You & I," "Friday," with HISTORY's Jang Yi Jeong, and the collaboration "Not Spring, Love, or Cherry Blossoms" with idol group HIGH4. 

Along with her career as a singer, IU has appeared on variety shows and pursued an acting career. IU debuted as an actress in 2011's Dream High, and has since starred in You're The Best Lee Soon-Shin, Pretty Man, and is currently appearing in KBS2's The Producers as a top K-pop idol named Cindy. 

IU's latest release, "Heart," topped Korean music charts in May. 

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