EXO-CBX have filed for contract termination from ONE HUNDRED and INB100.
According to an exclusive report from The Fact, Chen, Baekhyun, and Xiumin have recently sent a certified letter to INB100 and its CEO Cha Ga Won back in late March, demanding a response regarding their unpaid settlements and other contractual violations made by the agency as well as notifying the company of their intent to terminate their contracts. The EXO-CBX members have been waiting over two weeks, but have not yet received a satisfactory response to their demands.
INB100 is notably the company Baekhyun founded himself as he was preparing for his entertainment activities following his departure from SM Entertainment. In May 2024, it became a subsidiary of ONE HUNDRED after its acquisition. Despite leveraging EXO-CBX’s IP and brand power to secure valuable contracts and deals, with tens of billions of won in advanced payments, CEO Cha Ga Won failed to pay out the EXO-CBX members, their staff, and partner companies, leaving EXO-CBX in a position where it is difficult for them to carry out their activities.
Cha Ga Won’s side has told The Fact they are working to stabilize the company’s operations and will do their best to pay out the members, whether it is through additional investment rounds or through personal funding. However, many of the artists under the ONE HUNDRED label and its subsidiaries have also filed for contract termination citing contractual violations, including Taemin, Lee Seung Gi, VIVIZ, BE’O, Lee Mu Jin, and THE BOYZ.
Source: https://www.koreaboo.com/news/exo-c...e-contract-termination-one-hundred/?cb=ISQTmQ
@EXOL
According to an exclusive report from The Fact, Chen, Baekhyun, and Xiumin have recently sent a certified letter to INB100 and its CEO Cha Ga Won back in late March, demanding a response regarding their unpaid settlements and other contractual violations made by the agency as well as notifying the company of their intent to terminate their contracts. The EXO-CBX members have been waiting over two weeks, but have not yet received a satisfactory response to their demands.
INB100 is notably the company Baekhyun founded himself as he was preparing for his entertainment activities following his departure from SM Entertainment. In May 2024, it became a subsidiary of ONE HUNDRED after its acquisition. Despite leveraging EXO-CBX’s IP and brand power to secure valuable contracts and deals, with tens of billions of won in advanced payments, CEO Cha Ga Won failed to pay out the EXO-CBX members, their staff, and partner companies, leaving EXO-CBX in a position where it is difficult for them to carry out their activities.
Cha Ga Won’s side has told The Fact they are working to stabilize the company’s operations and will do their best to pay out the members, whether it is through additional investment rounds or through personal funding. However, many of the artists under the ONE HUNDRED label and its subsidiaries have also filed for contract termination citing contractual violations, including Taemin, Lee Seung Gi, VIVIZ, BE’O, Lee Mu Jin, and THE BOYZ.
Source: https://www.koreaboo.com/news/exo-c...e-contract-termination-one-hundred/?cb=ISQTmQ
@EXOL
