Haven't seen the english coverage by any news outlets (incl allkpop, have sent tip), but Kakao M released an statement just an hour ago.
Based on literal google translation, it looks like Kakao M does have the intention to extend the International contract with Spotify, but Spotify declined.
According to Kakao M, based on Spotify's policies, both domestic and international contracts must be done at the same time, which Kakao M wont give it for now.
As you might know, Spotify just launched in Korea last month, without any artists from Kakao M, as they haven't secured domestic contract (locally for Korea).
So for me it looks like Spotify is making a threat/pressuring Kakao M to give both domestic and international rights to them.
What do you think?
Does Kakao M needs Spotify or Spotify needs Kakao M?