Recently, rumors about EXO‘s Baekhyun and his alleged involvement in shady business dealings have been circulating. These rumors gained traction when a netizen posted about Baekhyun‘s move to the UN Village in Seoul’s prestigious Hannam district. The netizen highlighted the connection between Baekhyun and a company named One Signature, suggesting potential financial foul play.
What hate posts, what past rumors? I’m so worried seeing Baekhyun so serious 🥹
— maeve ☁︎ (@loeylogy) August 7, 2023
The netizen revealed that the CEO of the construction company that built Baekhyun‘s new home is his landlord. Interestingly, the records showed One Signature took out a 13 billion KRW mortgage. Further investigations into One Signature’s public records unveiled Baekhyun‘s position as a board executive. Another executive, Cha Dae Young, was identified as the father of Cha Ga Won, the CEO of the construction company and Baekhyun‘s landlord.
This discovery led to another revelation. Cha Ga Won is an executive at Big Planet Made, an agency previously accused by SM Entertainment of trying to recruit the EXO-CBX members. The timing of these events raised eyebrows, as EXO-CBX had requested contract termination a day after One Signature’s incorporation.
[230808/BAEKHYUN] [ENG SUB] 백현 인스타그램 Full Part 1https://t.co/9gzj2EA2jT
[230808/BAEKHYUN] [ENG SUB] 백현 인스타그램 Full Part 2https://t.co/VSSxB5EqH8 pic.twitter.com/HkFPSYqlX9
— 𝙘𝙖𝙣𝙙𝙮🍭c(^ㅅ^🍬c) 「백현이의 든든이🩷」 (@lightbaek614) August 7, 2023
As these findings spread, many netizens started believing that Baekhyun‘s publicized dispute with SM Entertainment was premeditated. Some speculated that he planned to take his company public and profit from selling his shares during the IPO.
In response to the growing criticism, Baekhyun took to a live stream on August 7th to address the controversy. “Seeing how the misunderstandings and misinformation were being taken as truths, I worried for my fans,” Baekhyun said. “That’s why I decided to live stream my story.”
Baekhyun speaks up
230808 BAEKHYUN IG LIVE pic.twitter.com/oUhz0SzBgd
— 큐티/백현이 (@qtpiebyunbaek) August 7, 2023
Baekhyun clarified his reasons for the legal dispute with SM Entertainment during the live stream. He said, “I’ve always wanted to inquire about accounting. There were incidents during Lee Soo Man’s absence that piqued my curiosity. But we reached an amicable compromise, and now SM and I have a good relationship.”
Baekhyun also talked about One Signature, revealing his intention behind putting up the company. “I started One Signature with my good friend Kasper to produce good choreographers and dancers,” he said. He further clarified that the company might undergo a name change.
Addressing the loan on his home, Baekhyun explained, “The reason I borrowed the money was for a promise I made to myself. I plan to start my own company while staying with SM Entertainment as a member of EXO. The loan serves as a reminder to always strive for better.”
You are about to embark on a road less travelled, and it will make all the difference. By your side, now and always ❤️ pic.twitter.com/ZBvcW4yrYa
— 큐티/백현이 (@qtpiebyunbaek) August 8, 2023
He also spoke about his relationship with Cha Ga Won and her father, emphasizing their close bond. “They came to know my parents, and we’ve gotten along like family ever since,” Baekhyun added.
Concluding his live stream, Baekhyun revealed that SM Entertainment is aware of and supports his ambitions. “SM knows about my plans to start my own company and positively supports my decision,” he affirmed.
With this live stream, Baekhyun hoped to clear the air and address the concerns of his fans. Only time will tell how these revelations will shape his future endeavors. – K-Pop News Writer
Featured Image: Baekhyun was so troubled by the rumors that he went live to address them quickly. Source: Twitter/@xunhuas.