Singer and actor Rain bids a "beautiful farewell" after ending his two year contract with Cube Entertainment. 

According to officials, a decision was made on Sept. 6 between Rain (Jung Ji Hoon) and Cube Entertainment's chairman Hong Seung Sung to not renew his contract, which expires at the end of September.

"From a new place, with a new heart, please begin a new future," was the encouraging statement the chairman made regarding the decision. After spending a long time worrying and mulling over the decision, Rain will be taking time to himself to think about his future. 

Chairman Hong Seung Sung was one of the key people responsible for cultivating Rain's success after his debut, when Hong was part of JYP Entertainment as a representative. Hong is the founder and largest stakeholder of Cube Entertainment, and Rain regarded him as a "father figure." After Rain completed his military service in September 2013, he joined Cube Entertainment for two years with an exclusive contract without a deposit due to his relationship with Hong.

Now, the focus is on Rain, whose next move is being closely watched amidst rumors and speculation. Given Rain's presence and value in Hollywood and the Chinese entertainment market, it seems that there will be a fierce bidding war between agencies to sign him.

However, Rain has mentioned that he is not ready to make a decision for what comes next. He can find another agency that will support him and his future endeavors, or he could be a free agent. Alternatively, he could sign with a newer agency to fulfill his dreams.

Rain's latest Chinese drama "Diamond Lover" has allowed him to grow his fanbase, thus proving that his options for future projects are plentiful.