SM Entertainment has denied EXO’s Baekhyun’s recent claim that they were aware he was launching his own agency.
On August 8, Baekhyun held a live broadcast on Instagram during which he responded to various rumors that have been spreading online. After discussing his recently resolved dispute with SM Entertainment regarding his exclusive contract, Baekhyun shared that he was starting his own company with his friend Kasper.
Explaining that the company, which is currently being called One Signature, will eventually be launched under a different name, Baekhyun claimed that SM Entertainment was also positively supporting his new venture.
“SM also agreed and showed a positive attitude to my starting my own company,” said Baekhyun during the broadcast. “It’s not something I said on my own, without consulting with others.”
However, on August 9, SM Entertainment released an official statement claiming that they were not, in fact, aware of Baekhyun’s new company—and that they had found out about it through the news the previous day.
“Our company had never heard anything about this before, and we learned about it through the news,” stated the agency. “Although we are flustered [by the sudden news], we trust that [Baekhyun] will keep the promises he made during our mutual agreement.”
Additionally, while Baekhyun said he was not working on a new album at present, SM Entertainment alleged that they had been preparing for Baekhyun to release a new solo album before the end of the year.
The agency’s full statement is as follows:
1. Is [SM’s] contract with Chen, Baekhyun, and Xiumin ending?
2. Why did SM come to an agreement with Chen, Baekhyun, and Xiumin?
3. Following the end of their exclusive contracts, will Chen, Baekhyun, and Xiumin only be pursuing individual activities through their own corporation?
4. Was the company aware of Baekhyun’s new corporation called One Signature?
Earlier this year, Chen, Baekhyun, and Xiumin resolved their legal dispute with SM Entertainment and came to an agreement about their contracts shortly before EXO’s long-awaited group comeback.
Source: Soompi