EXO member Baekhyun has personally addressed the rumors surrounding him and SM’s response has gained attention!
On the 8th of August, Baekhyun clarified each rumor surrounding him through an Instagram Live broadcast. Baekhyun expressed, “Despite there being too many misunderstandings and things that aren’t true, those articles are twisted to the point of becoming treated as facts. When I see those, it’s very heartbreaking because it hurts the hearts of our beloved fans who I care so much about. So I turned on this live broadcast at a late hour to share my story with all of you.”
Regarding the disputes with his agency SM Entertainment, Baekhyun mentioned, “I was curious about settling and contract-related matters for a very long time. I wanted to personally confirm them. Just as there are rules everywhere you go, there are rules to be followed within the company. I couldn’t break them.” He continued, “Both I and the company understood each other, and through amicable agreements, we now support each other in a good relationship.”
About his personal rumored company One Signature, he stated, “I started this company with the thought of nurturing good choreographers and dancers along with my friend Kasper. It’s not yet fully developed, but I’m conducting a lot of research and trying various things for good intentions and good results. The company will have a name other than One Signature.”
Baekhyun also addressed the topic of him borrowing 13 billion won and visiting Chairman C’s house, stating, “I borrowed it with the intention of setting up my own company. Even if I achieve satisfactory results while operating it, I won’t be satisfied. I will work harder and always strive with a sense of burden. I didn’t receive this house. I’m repaying the loan. There is no inappropriate relationship with Chairman C.”
Baekhyun revealed that he wants to try his hand at producing after going through this dispute, saying, “I had the thought of walking the path of a producer. So, I sought advice from many people. I spent 12 years with SM, including my trainee days. When I tried doing something someone else did, I learned a lot. And it’s true that Chairman C and MC Mong gave me a lot of advice.”
Lastly, Baekhyun expressed his regret over causing hardship for EXO-Ls (fans) due to various tumultuous events, saying, “I apologize for making EXO-Ls’ hearts heavy through various chaotic situations. To those who fabricate and spread things that cannot be fact-checked and turn them into truths, I can’t grant forgiveness anymore.”
In conclusion, Baekhyun mentioned, “Regarding setting up my personal company, I could talk about it now because SM Entertainment also agreed positively. I’m not speaking unilaterally. I believe that company is one created with the fans.” He ended by addressing his fans, “I’m sorry. I won’t disappoint you. I’ll become someone who shares a lot of good news.”
After that, various media outlets contacted SM for a response and rumored began to allege a contract termination with EXO-CBX. Regarding this, SM stated on August 9th to Newsen, “The existing exclusive contracts have not ended. Baekhyun’s contract goes until January next year. We have also been preparing for Baekhyun’s solo album, with the goal of releasing it within this year. The new exclusive contract with Baekhyun is also valid. As previously announced, there have been some modifications according to mutual agreement.”
SM explained the reason for the agreement with CBX, “As we previously announced, we reached this agreement to protect the entire EXO group and, above all, for the fans. It was the timing of EXO’s full group’s new album release. If disputes continued, it would have been difficult for all members who had worked hard on the album activities, and the future of group activities would have become uncertain. So, we reached the agreement to support the entire group’s activities.”
Addressing speculations that CBX would pursue only individual activities after the expiration of their previous exclusive contract, SM said, “As mentioned before, the new exclusive contracts are still in effect, and EXO’s group activities will continue. While we cannot disclose specific settlement conditions, according to the agreement with the company, we have allowed CBX members to engage in individual activities.”
SM confirmed that they were not aware of Baekhyun’s establishment of the personal company ‘One Signature’ in advance. In response to inquiries about this, SM responded, “The company didn’t know about this in advance and learned about it through news articles. We are embarrassed, but we believe that the parts related to mutual agreement will be upheld.”
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