Two years after releasing their final album, the iconic K-pop girl group 2NE1 were officially disbanded on Friday, Nov. 25.

Since surging into limelight with their 2009 debut single "Fire" and becoming known worldwide for their swaggering girl power anthem "I'm the Best", 2NE1 became one of K-pop's most iconic girls group.

On Friday, YG Entertainment announced through an official release on the company's website that the agency was "deeply saddened to let 2NE1 go" after seven years but decided that it's better for the members to pursue their solo careers.

YG Entertainment said, "Our contract with 2NE1 came to an end in May of 2016, and as we faced a situation where Minzy is no longer with us, we ultimately came to a decision of 2NE1's official disbandment after long discussion."

"For the past 7 years, 2NE1 was a representative group of YG. We, too, cannot express how upset and disappointed we are. However, we judge that it'll be difficult to continue promoting. We decided that instead of looking forward to 2NE1's unpredictable promotions, we should rather focus on the solo promotions of the members," YG Entertainment added.

The agency also announced that it renewed contracts with members CL and Dara but revealed that the group's third and final member, Park Bom, will no longer be managed by the company.

The news followed the revelation earlier this year that the foursome became a trio when the group's youngest member, Minzy, chose not to renew her contract with the YG Entertainment.

Prior to disbanding, 2NE1 was YG Entertainment's most prominent female act and their only K-pop girl group prior to BlackPink's debut earlier in the year. 

Throughout their career, 2NE1 pursued a variety of sounds, incorporating pop, hip-hop, reggae, electronica and R&B elements into their music.

The group's aggressive, fashion-forward persona combined with their relatable lyrics enabled the quartet to rise to the top of the K-pop world as an alternative to more girlish and cutesy acts. 

2NE1 appeared together for the last time at the 2015 MAMA's, where the three other members surprised viewers by appearing alongside CL during her solo set and performing some of their biggest hits.