Baekhyun's entrepreneurial dreams backfire for fans
Locked content
To access more Fact-Check articles,
please consider subscribing to Celeb
Log In

Rumor has it that EXO’s Baekhyun is leaving his agency SM Entertainment and taking his bandmates Chen and Xiumin with him. Long story short — he’s not leaving, at least not until January 2024.

Baekhyun, Chen and Xiumin have butted heads with SM Entertainment since earlier in the year when they claimed they were mistreated by the agency and demanded their contracts be nulled by the court.

The brawl took full shape when the three members, also members of an EXO subunit named EXO-CBX, demanded their agency SM Entertainment terminate the “unfair” exclusive contracts with the three members and announced it to the press. SM Entertainment argued that an outside party was trying to sweet-talk the members into joining it instead while the members claimed that the agency had been abusing its power over the artists.

Baekhyun, a member of boy band EXO along with his bandmate Xiumin behind him, at the Times Square shopping mall in western Seoul on July 25 [NEWS1]

Three weeks went by with both parties playing the blame game, but they managed to come to an agreement in late June after fixing certain clauses in the contract for the three members.

So why this news now, over a month after everyone shook hands and smiled for the camera?

Baekhyun the entrepreneur

The kerfuffle began on Aug. 8 when Baekhyun revealed that he founded a music company with his friend — a dancer who goes by the name Kasper — and took out a 13 billion won ($9.7 million) loan under the company’s name, One Signature.

More Fact-checks