The Exclusive Contract Between SM Entertainment and EXO-CBX Is Valid: "We Were Unaware of Baekhyun's Own Company."

SM Entertainment has revealed its position regarding the exclusive contract with EXO-CBX.

In a statement to a media outlet on August 9, SM Entertainment said, "Exclusive contracts with EXO-CBX (Chen, Baekhyun, Xiumin) have not ended."

SM Entertainment stated, "In the case of Baekhyun, the contract is valid until January next year. The label has been preparing his solo album for release within the year. And the new exclusive contract is also valid. It was partially modified through a mutual agreement, as previously reported in the press release."

Regarding the background of the agreement with EXO-CBX after a dispute over an exclusive contract, SM Entertainment stated "As previously announced, we have reached an agreement to protect EXO's members and fans. At that time, EXO's new album was about to be released. As long as the dispute continues, EXO members would have difficulty carrying out the album activities they had been working on, and future EXO would be unclear. So it was for the sake of all members."

SM Entertainment emphasized, "The new exclusive contract will be valid after the expiration of the existing contract, and EXO will continue its work." And the label added, "We cannot reveal the specific settlement conditions, but according to the agreement, the label has made it possible for the three members of EXO-CBX to focus on individual activities."

SM Entertainment denied knowing about Baekhyun's One Signature, which is his own company. Regarding whether the label was aware of Baekhyun's personal company, SM Entertainment said, " We were unaware of it, and found out through a news article. Though it's embarrassing, we believe the mutual agreement will be kept."

There was a report on a YouTube channel stating that Chen would leave SM in September, Xiumin in October, and Baekhyun in January of next year to move to Baekhyun's company.

by. Kim jiwon