Taemin, Contract Termination with Cha Gawa

Group SHINee's Taemin has terminated his exclusive contract with Big Planet Made Entertainment. Despite having time remaining on his contract, Taemin strongly requested termination from CEO Cha Ga-won, and their partnership concluded after approximately 1 year and 10 months without significant dispute.

According to sources, CEO Cha Ga-won was in a difficult position to refuse Taemin's request. Not only were there unsettled payment issues, but it is also known that CEO Cha committed gross negligence while proceeding with contracts with external companies without Taemin's consent.

CEO Cha Ga-won co-founded One Hundred with MC Mong, and Big Planet Made Entertainment is a subsidiary of this company. Taemin signed with Big Planet Made Entertainment after his contract with SM Entertainment ended.

It is reported that CEO Cha Ga-won has failed to pay settlement fees totaling billions of won not only to Taemin but also to other affiliated artists such as Lee Seung-gi, The Boyz, and Baekhyun.

One Hundred, Big Planet Made Entertainment, and INB100 are in a state of capital impairment, and in addition to settlement issues with their affiliated artists, unpaid amounts to external collaborators exceed 10 billion won. This appears to have made it virtually impossible to support the activities of their artists.