In December 2022, Chen, Baekhyun, and Xiumin renewed their contracts with SM. However, in June 2023, all three decided to terminate their exclusive contracts, citing unfair terms. Despite accusations that MC Mong of BIG PLANET MADE instigated this move, he denied any involvement.
Following the dispute, it was mutually decided by both parties that SM would continue to manage EXO’s group activities, while CBX’s new company would handle their individual activities. Furthermore, a new contract was created which stated that 10% of the new company’s earnings would be shared with SM throughout the revised contract period. In January 2023, Baekhyun founded INB100 and commenced his solo endeavors with Chen and Xiumin.
In April 2023, SM reached out to them in order to settle the issue in accordance with the agreement. However, CBX presented proof of the contract’s terms and refused to comply. Consequently, ONE HUNDRED (the parent company of Big Planet Made) merged with INB100. On June 10, INB100 held a press conference and stated, “It is unjust to pay 10% of the revenue to SM.”
If CBX fails to meet its contractual obligations, SM reserves the right to seek damages. It is anticipated that CBX will respond by initiating a lawsuit to void the contract.
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