SM Entertainment has addressed recent reports of EXO members Sehun and Chanyeol pursuing individual careers under a new agency.
On October 17, SBS Entertainment News reported that according to entertainment industry insiders, EXO’s Sehun and Chanyeol have signed exclusive contracts with a new agency founded by Jung Hoon Tak, the former CEO of the entertainment agency iHQ and an advisor to the Korea Entertainment Management Association. The report further stated that the two EXO members have reached an agreement with SM Entertainment to pursue personal endeavors with the new company while maintaining their involvement in EXO’s group activities under SM.
In response to the report, SM Entertainment has issued a statement debunking the rumors, stating, “It is not true that Chanyeol and Sehun have moved to a new agency. The contracts that EXO members signed with SM Entertainment at the end of last year remain valid, and EXO activities will continue to proceed under SM Entertainment.”
SM Entertainment further clarified, “However, in regards to the members’ individual activities, we have conditionally allowed them to proceed through their own established companies if they wish, within the terms of their existing exclusive contracts with SM.”
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