[BizHanKook] It has been confirmed that Baekhyun (real name Byun Baek-hyun) of the group EXO’s subunit CBX (Chen, Baekhyun, Xiumin) has established a new company while embroiled in an exclusive contract dispute with their existing agency, INB100. Recently, the company relocated its headquarters, signaling a move to secure office space. With a key figure who previously handled management duties at their former agency joining the new company, observers are speculating that CBX may be laying the groundwork for independent activities.
According to Bizhankook’s report on the 30th, Bion Entertainment, led by Baekhyun as CEO, changed its headquarters address on the 22nd. Bion Entertainment is a startup corporation established on the 18th of last month; it was initially registered at Baekhyun’s private residence before relocating about a month later.
Bion Entertainment was established just three days after the court granted the injunction filed by CBX to suspend the validity of their exclusive contracts with INB100. On the 15th of last month, the 50th Civil Division of the Seoul Central District Court accepted the injunction filed by the three members against INB100. Consequently, the validity of their exclusive contracts is suspended until the first-instance verdict of the lawsuit confirming the non-existence of such contracts is reached.
A management official, identified as Mr. A, has also been listed as an executive director at Bion Entertainment. Mr. A has long worked in management at entertainment agencies and has a history of working with Baekhyun on business matters in the past.
Since the establishment of Bion Entertainment, the members of CBX have been continuing their activities, holding a series of fan meetings in Shanghai, China. Xiumin and Chen met with local fans on the 26th and 27th of last month, followed by Baekhyun on the 2nd of this month. Their relocation of the new corporation's headquarters follows this string of fan meetings.
A representative for Bion Entertainment stated, "Nothing has been finalized in terms of specific contracts yet, but it is true that the members of CBX are working together," adding, "We established the corporation primarily because we cannot receive proceeds from small-scale events into personal accounts, and there are tax issues to consider." They further noted, "We expect specific activities through Bion Entertainment will likely begin after March of next year."
Regarding this, INB100 stated, "We are not aware of the establishment of the new corporation."
Meanwhile, the first hearing for the lawsuit regarding the confirmation of the non-existence of the exclusive contracts between CBX and INB100 is scheduled for November 4th. While the injunction has enabled the trio to pursue independent activities, the legal battle over the final validity of their exclusive contracts remains ongoing.