From being an outstanding performer, Baekhyun of the K-pop boy group EXO is now rumored to take on a new venture in his career. This time, as an agency owner and a CEO.
On Wednesday, January 3, several Korean media outlets reported that Baekhyun has launched his own label, I&B100. According to Tenasia, the idol has already completed the formal registration of the company. Moreover, the artist has also allegedly formed its team of internal directors in the label.
TenAsia shares EXO Baekhyun has set up his own agency, 아이앤비100 (I&B100) as of June 23, 2023https://t.co/adr62610bI
— 파룬 (@balloon_wanted) January 3, 2024
To recall, reports about I&B100 first made headlines last year as the EXO vocalist allegedly established the agency in June 2023.
Furthermore, the same report by Tenasia also claimed that his fellow EXO members, Chen and Xiumin, will also be joining the said label.
BAEKHYUN established his own company 아이앤비100 (I&B100) as of June 23, 2023!
Reports say CHEN and XIUMIN will also work with the agency as soloists and EXO-CBX, which they won the rights to from SM 🥳
[Not yet confirmed]— All members will continue actively promoting as EXO! pic.twitter.com/fPU7g3Yw8Z
— EXO Charts (@exochartstats) January 3, 2024
However, neither Baekhyun nor SM Entertainment have yet to address the reports about the label.
If proven to be true, I&B100 will be Baekhyun’s second owned company. In August 2023, the singer revealed that he set up One Signature with his friend Kasper. Notably, the EXO member said that the agency aims to produce good choreographers and dancers.
As there’s no confirmation yet about Baekhyun’s agency I&B100, EXO fans are worried as to what it means for the group. Especially considering how there’s several huge changes in EXO for 2023 alone.
SM Entertainment’s earlier statement abouts Baekhyun and EXO
To note, Baekyun, Chen, and Xiumin filed a lawsuit against SM Entertainment in June. The EXO-CBX sub-unit cited unclear handling of earnings and slave contracts as their motivation. However, both parties have reached a settlement after an almost three-week legal battle.
In August, Baekhyun revealed his plans to establish an agency in a live broadcast on Instagram. With that, he also clarified that he will remain with EXO. “I will be operating a company while staying with SM Entertainment. And continue to be active with EXO members,” he said.
Moreover, SM Entertainment also released a statement saying that their exclusive contract for the three EXO members are still in place. “We cannot reveal the specific conditions. But in accordance with the agreement with the company, we have made it possible for the three members to engage in their individual activities,” they added.
In October 2023, SM Entertainment confirmed that EXO member D.O will have his contract expired by November. Shortly after, it was announced that D.O. will be pursuing his acting and individual activities through Company SooSoo. Despite being in a new agency, SM Entertainment emphasized that D.O. will still continue his EXO activities under them.
Given the situation with D.O, it appeared that it might also be the case for Baekhyun should the rumors of his new agency be true. Which means that the group’s fandom, EXO-Ls, can be reassured that EXO will continue to perform together despite being under separate agencies.
Featured image:BBaekhyun poses for EXO’s latest album ‘Exist.’ Credit: Facebook/EXO