EXO’s Baekhyun Confirms The Launch Of His Own Company + Clarifies Rumors

Aug 7, 2023

EXO’s Baekhyun has communicated with fans regarding recent rumors through a live broadcast on Instagram.

On August 8, Baekhyun took to his personal Instagram to hold a live broadcast and made clarifications regarding rumors floating online.

Regarding his recently resolved dispute with SM Entertainment on his exclusive contract, Baekhyun opened up, “Honestly, I was always curious about settlement and contract-related matters for a long time. In the midst of that, we were faced with various situations due to Lee Soo Man’s absence, and I think that made me more curious.”

He continued, “I got the thought that I wanted to personally check myself because during the two years I was serving in the military, I worked hard on vocal lessons, gave a lot of opinions after my military service ended on how we can release an album for our fans who waited two years, and I took personal time to myself, so what happened then was like a bolt from the blue.”

Furthermore, Baekhyun introduced his newfound company One Signature. He shared, “It’s a company I started with my friend Kasper at the thought of wanted to grow many good choreographers and dancers. It has yet to be made concrete, but I am researching a lot and trying different things to make good results with good purpose.” He mentioned, “The company will come out with a different name that is not One Signature.”

Regarding rumors that before setting up his company, he received a loan of 13 billion won (approximately $9.9 million) and moved to a villa in the neighborhood of Hannam owned by Chairman “C,” Baekhyun shared, “I took out a loan as a means of not being careless while running my own company, to not be satisfied and work harder even if I achieve satisfactory results, and to always live with a burden.” He continued, “I haven’t received this house. I am paying all the loans. I am not in an inappropriate relationship with Chairman ‘C.'”

On his reason for not releasing a new solo album, Baekhyun explained that he wanted to explore the field of producing more these days. He elaborated, “The reason why I’m not releasing an album is not because I’ve lost my initial mindset but because I think that this is a very important period in my life,” saying that he wanted to prepare more thoroughly before releasing a new album.

Finally, Baekhyun shared, “I’m sorry for making fans go through a difficult time,” adding that he can no longer be lenient against those who spread rumors that have not been fact-checked and that SM Entertainment is also positively supporting his new venture. He concluded, “I think of that company as a company I made together with fans. I hope that my sincerity was conveyed at least slightly.”

Source: Soompi