EXO Baekhyun, “I’m setting up a private company. SM agreed and it has nothing to do with Chairman A”
EXO member Baekhyun revealed his plan to establish a private company and denied his involvement with Chairman A.
On August 8th, Baekhyun turned on a live broadcast on his Instagram and communicated with fans. He said, “I’ll begin by telling you why I started a dispute with SM. I had always been curious about settlement and contract-related issues for a very long time. Various situations arose during that time due to the absence due to Lee Soo Man’s absence so I wanted to check it myself”, adding “There are rules in the company that I cannot break and must follow. Of course, the company and I understood each other, so we reached an agreement smoothly and we are still supporting each other because our relationship is good”.
Introducing “One Signature”, Baekhyun explained, “I started planning to establish this company with my friend Kasper because I wanted to train many good choreographers and dancers”, adding “It has not yet begun to take shape, but I’m doing many studies and trying things to produce a good result for a good purpose. I may have another name instead of One Signature later.” He emphasized that SM Entertainment agreed and allowed him to establish his private company.
However, suspicions of Baekhyun taking a loan of 13 billion won and receiving sponsorship from Chairman A emerged during the process.
In this regard, the EXO member said, “There have been rumors that I intended to raise funds through the loan and then escape after my company gets listed, but it’s legally not true. It’s impossible to get listed with only the loan. The reason I took the 13-billion-won loan is to run my own company”, adding “They say I used it to buy this house, but I’m actually paying all the loans. In the case of Chairman A, my parents and the family of Chairman A’s father have known each other for a long time, and we are still close to each other like a family until now”, emphasizing that it’s not an “inappropriate relationship”.
He continued, “I will still be working and doing activities under SM and with EXO members. However, I took the loan to establish my own company in order to make myself strive more and remind myself that I should work harder and live with a burden to not feel satisfied with the good results I achieve.”
Baekhyun shared, “Through the dispute, I have solidified the desire to become a producer that I have been contemplating for a long time”, adding “I really want to do it, but since there are many things I don’t know, I sought advice from different people. It is true that Chairman A and MC Mong, who are recently mentioned, had given me lots of advice through our private meetings”.
He added, “I’m not releasing any album not because I’ve lost my motivation. The reason is that I believe this is a very important point in my life. I think I will do it next year without having to worry about anything because I would have had my own company at that time.”
Source: Daum
