SM Entertainment has just denied a statement regarding EXO's Baekhyun which stated that the agency already knew about its plans to open a new agency. This was expressed directly through a written statement by saying that SM Entertainment had never heard of Baekhyun's plans to build another agency.
"Our company has never heard of anything related to this before, and we just found out about this through the news," said SM Entertainment, quoted from the SBS report. "Although we are confused, we believe that (Baekhyun) will keep the promises he has made in our agreement with us," he continued, quoted from Allkpop.
Previously, the member of the EXO boy group expressed his desire to start a new agency with a colleague, Kasper. The company was originally named One Signature and planned to house various choreographers and dancers. Baekhyun revealed his plan when doing a live broadcast on Instagram to greet fans some time ago.
"This is a company that I created with my friend Kasper with the desire to develop many great choreographers and dancers," said Baekhyun. "(The plan) hasn't been made concrete yet, but I did a lot of research and tried various things to produce a good result and goal," he said again. "SM Entertainment has also agreed and shown their positive attitude to start my own agency," said Baekhyun.
On the other hand, Baekhyun with Chen and Xiumin EXO have just reached an agreement regarding their contract with SM Entertainment which had problems. The EXO unit, called EXO CBX, stated that they wanted to maintain their contract with the agency that had made their debut.
Their contract problems started when EXO CBX said there was no transparency regarding the payments they had received so far. Starting from there, the three ended their contracts with SM Entertainment in early June 2023. However, SM Entertainment later stated that the problems between the two parties had been resolved by an agreement.
"The agency and the three musicians will acknowledge and maintain the contractual relationship while carrying out activities as EXO, exactly as scheduled in a more active and sustainable manner through the process of discussion and correction in certain parts," SM Entertainment said last June 2023.
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