EXO's Chen, Baekhyun, Xiumin Terminate INB100 Contract

Chen, Baekhyun, and Xiumin of EXO (also known as EXO-CBX) have notified CEO Cha Ga-won of their intent to terminate their exclusive contracts. In late March, EXO-CBX sent a certified letter to INB100, led by CEO Cha Ga-won, demanding a response regarding unpaid settlements and contract breaches. It is understood that after more than two weeks passed without a satisfactory reply, they decided to terminate their contracts.

INB100 is a company established by Baekhyun in preparation for his independence from SM Entertainment. Later, in May 2024, it was absorbed as a subsidiary of One Hundred, co-founded by CEO Cha Ga-won and MC Mong. CEO Cha became the largest shareholder, leading INB100 alongside One Hundred and Big Planet Made Entertainment.

According to reports, CEO Cha Ga-won entered into large-scale contracts utilizing EXO-CBX's intellectual property and received tens of billions of won in advance payments, yet plunged the company into a state of complete capital erosion. The unpaid settlement amounts to EXO-CBX alone are estimated to be in the billions of won. Furthermore, costs were not paid to partner companies and staff, creating a situation where EXO-CBX's normal activities are difficult.

In response, CEO Cha Ga-won's side stated, "We are working to normalize the company. We will strive to resolve this by securing additional investment or by using our personal assets."

In addition to EXO-CBX, other artists under CEO Cha Ga-won's leadership, including the group The Boyz (under One Hundred), Taemin, Lee Mujin, and BEO (under Big Planet Made Entertainment), the girl group Viviz, and singer-actor Lee Seung-gi, have consecutively notified their intent to terminate exclusive contracts and have left the company. It is reported that there are now very few artists remaining in CEO Cha's circle.