Following EXO’s Baekhyun’s recent revelations, SM Entertainment released a statement of their own to address the idol’s claims.
On Tuesday, August 8, Baekhyun responded to a series of rumors surrounding his career through a live broadcast on Instagram.
What Baekhyun said
In the livestream, the vocalist opened up about his recent legal dispute with SM Entertainment. He said that he’ve “always wanted to inquire about accounting.” And that there were incidents during Lee Soo Man’s absence that “piqued [his] curiosity.”
Aside from Baekhyun, EXO members Chen and Xiumin moved to terminate their exclusive contracts with 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.
Additionally, Baekhyun pointed out that they reached an “amicable compromise.” He also emphasized that he now has a “good relationship” with SM Entertainment.
— 큐티/백현이 (@qtpiebyunbaek) August 10, 2023
Moreover, Baekhyun also revealed that he started the company One Signature with his friend Kasper. The idol explained that it aims to produce good choreographers and dancers.
The singer also mentioned that SM Entertainment is aware of his plans and encouraging his new venture.
SM Entertainment reacts
Yet, the agency claimed that they’ve never heard anything about Baekhyun’s plans. And that they only found out about it through the reports.
“Although we are flustered by the [sudden news], we trust that [Baekhyun] will keep the promises he made during our mutual agreement,” the agency said in a press release.
Regarding #EXO #Baekhyun personal company, One Signature, SM Entertainment stated the company hasn't heard about it before & just found it out through the news.#KoreanUpdates VF
— KoreanUpdates! (@KoreanUpdates) August 9, 2023
Furthermore, SM Entertainment also clarified that the existing contracts of Chen, Baekhyun, and Xiumin have not expired. In fact, the agency said that Baekhyun’s existing agency with them runs until January 2024.
The label also asserted that EXO will continue their group activities and Chen, Baekhyun, and Xiumin can also pursue solo activities.
EXO released their seventh full-length album EXIST in July. It served as EXO’s first album as a full-group in two years. It has a total of nine songs, with “Cream Soda” as its title track.
Currently, EXO is airing the fourth season of their hit variety show Travel the World on a Ladder.
Featured image: EXO’s Baekhyun in the teaser images for ‘Let Me In.’ Credit: Facebook/EXO