EXO member Baekhyun, who allegedly suffered massive financial losses at the hands of One Hundred Label Chairman Cha Ga-won, has established a new agency and is striking out on his own.
Baekhyun completed registration of his entertainment planning company, Bion Entertainment, with the Gangnam-gu district office in Seoul on Monday, according to industry sources. The agency, which Baekhyun founded in September, has registered record production and distribution, performance planning, and singer and actor management as its core businesses.
Industry observers expect EXO subunit "ChenBaekXi" — comprising members Chen, Baekhyun and Xiumin — to resume activities together under Bion Entertainment.
Baekhyun was originally signed to SM Entertainment before breaking away in 2023, after a contract dispute, to found his own agency, INB100. Chen and Xiumin joined him there.
INB100 was absorbed into Cha's One Hundred Label in May 2024, but conflict soon emerged over unpaid settlement fees and contract advances. ChenBaekXi notified INB100 of their contract termination in March, and in August filed for — and won — an injunction to suspend the validity of their exclusive contracts. Litigation over the contracts is ongoing.
Claims have been made that Baekhyun suffered losses of 63 billion won ($46.5 million) at Cha's hands. Entertainment journalist-turned-YouTuber Lee Jin-ho alleged in August that Baekhyun had not received 35 billion won in exclusive contract fees, 16 billion won in jeonse deposits and 12 billion won in unpaid settlements from Cha.
Cha, who originally ran a construction company, entered the entertainment industry in 2023 by partnering with rapper MC Mong to establish One Hundred. He rapidly expanded by signing a string of prominent artists including Lee Seung-gi, Baekhyun and Lee Mu-jin, but problems mounted as artists began leaving over unpaid settlement fees. Employees and partner companies also went unpaid. Allegations further emerged that Cha had embezzled company funds and used them, along with MC Mong, for overseas gambling trips.
Among those affected, Lee Seung-gi paid a jeonse deposit of 10.5 billion won to move into a luxury villa owned by Cha, but has been unable to recover the money even though the lease expired this month.
Cha is currently in detention and on trial on charges of defrauding Nomers Co. of 30 billion won.
paq@heraldcorp.com
