EXO member Baekhyun has established his own agency. On top of that, two of his co-members have signed with him.
Keep on reading to learn more!
EXO Baekhyun Becomes CEO — Two Co-Members Join His Agency
On January 3, 2024, TenAsia released an exclusive report announcing that EXO member Baekhyun has become the CEO of his own agency, I&B100.
The "Bambi" singer is cited as both the company's owner and CEO. Additionally, he has finished registering the internal directors of the business.
The company was formally established on June 23, 2023, which means that Baekhyun launched it before his contract with SM Entertainment was extended in August.
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According to reports and the registered papers, I&B100 is a multi-entertainment corporation that will handle a variety of jobs including production, business administration, investing, and consultancy.
TenAsia also announced that two EXO members have followed Baekhyun to his new agency. Chen and Xiuminn will also be working with Baekhyun.
Despite the launch of I&B100, Baekhyun, Chen, and Xiumin still have contracts with SM Entertainment for their activities with EXO. However, they were permitted by SM Entertainment to find a new home for their individual activities.
SM Entertainment stated,
"The exclusive contracts with the three members are still in effect. We cannot disclose the specific settlement conditions, but in accordance with the agreement made with the company, we have allowed the three members of EXO-CBX to engage in individual activities elsewhere."
EXO Baekhyun Opens Up On Taking Loans To Establish Own Agency
Baekhyun is considered an A-lister and has millions to his name. However, opening up an agency is no easy feat, and it is not cheap either.
Baekhyun reportedly borrowed ₩13.0 billion KRW, or roughly $9.91 million USD, to establish I&B100. Speaking up about the situation, Baekhyun gave his reasons for taking out loans.
He stated,
"I took out the debt in order to fulfill a promise I made to myself. I took it out to show that I should always live under pressure and never ignore the operations after starting my own business."
What do you think of the situation? Tell us in the comments below!
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Written by Alexa Lopez
