T-ara signed a new contract with a Chinese agency run by one of China's wealthiest men.

Wang Sicong has signed the Korean girl group T-ara to his new entertainment agency, Banana Plan. Wang is the son of real estate mogul Wang Jianlin, the wealthiest man in China according to Forbes.

The Korea Times reported that T-ara is the first K-pop group to sign with Wang, but his interest in K-pop means that he will likely add more to Banana Plan. The Times said that Wang will hold a press conference in the near future to discuss his venture into the entertainment industry.

T-ara debuted in South Korea in 2009, and is signed to MBK Entertainment in Korea. The girl group has featured varying levels of popularity in Korea, but is arguably the most popular Korean act in China. They are also popular in Japan.

Yahoo Singapore said that rumors are circulating that Wang offered the members of T-ara their own Ferraris, and has offered to pay MBK Entertainment $8 million USD in order to terminate the group's contract.

The six-member group made a comeback in South Korea on August 3 with the album "So Good." They spent much of August promoting the title track, "So Crazy," on Korean music shows.

T-ara's fan club, Queens, recently won the 2015 Billboard Fan Army Face-Off, defeating fandoms of world stars like Beyonce and One Direction.

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