EXO Baekhyun spilled the tea regarding the establishment of his own label, and also clarified the rumors surrounding him involving SM Entertainment and chairman C.
Baekhyun To Become CEO of Own Label + SM Entertainment To Handle EXO Activities
EXO Baekhyun personally announced his plans to build his own company, and clarified rumors of the dispute with SM Entertainment and the 13 billion KRW (9.96 million USD) worth of loan to buy Chairman C's house.
On August 8, the idol decided to host a live broadcast to reveal his side amid the circulating rumors related to his future path as an artist.
ALSO READ: SM Entertainment, EXO-CBX Resolve Conflict – Will Chen, Baekhyun, Xiumin Still Leave Company?
In particular, he mentioned his start-up private company, One Signature (tentative name), which he planned together with choreographer Kasper.
"The company started with the idea of training a lot of good choreographers and dancers with my friend Kasper. It's not yet materialized, but I'm doing a lot of research and trying to produce good results for a good purpose, and most of all, I'll tell you later, but my company will come out under a name other than the name of the one signature."
Just then, Baekhyun confirmed that he also plans to launch another company that will handle his solo activities This is also in line with the initial reports that he bought an about 10 million USD house owned by Chairman C through a loan.
"Why did I take a loan of 13 billion won (10 million USD) and chose the house owned by Chairman C? I'm sure you're very curious about this. I think the reason why I took out a big loan was a small promise to me. It could be a big promise. It's because I'm going to run my own company."
However, he continued by clarifying that he will not part ways with SM Entertainment. He said he will continue to work with them for his group activities.
"I will run my own label, but I'm still going to be in SM, and I'm going to continue to work with EXO members... However, I will set up my own company, and if I achieve satisfactory results without being neglected while running the company, I took out a loan in the sense of not being satisfied, trying harder, and always living with a burden."
Baekhyun explained that he is close with Chairman C as he and the idol's parents are like family; thus, he seeks for his advice along with MC Mong.
The "Candy" singer attested:
"The establishment of a private company is also agreed by SM. Some people will be anxious when I opened my own label, but I will try my best. Please keep an eye on me."
EXO Baekhyun Reveals What Prompted Him To Open Own Company
In the same live broadcast, Baekhyun opened up that the reason for his delayed solo comeback is that the idol decided to get involved with his music as a producer, and he also wants to make a release that will make EXO-Ls (fandom) happy without recognizing any deficiency from the company.
Baekhyun hinted at the reason he wants to open a solo label, mentioning his fandom:
"It's hard for me to see EXO-Ls tired and having a hard time because of all the messes and supporting me. I just don't want to keep you waiting... That's how I made up my mind. Next year... Since I'm at my own company, I can control it. It's okay for me not to care about anything.
Not only in terms of my overseas tour and world tour but even the small things... like the snack party that I mentioned before... I won't be able to eat snacks, but there are small parties like that, and all sorts of things... I want to make you happy. And I think I made up my mind to do it again. I hope you will keep an eye on Baekhyun's happy path in the future."
READ MORE: LOOK! EXO Baekhyun's Lavish New Home Mirrors 'UN Village' Lyrics + Was the Song A Hint?
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