Baekhyungroup member EXOstarted his own company called 'I&V100'. According to company registration documents obtained by Ten Asia on the 3rd, it is confirmed that the company founded by Baekhyun is called “I&V100”.
He completed all the necessary steps to be CEO and registered as an internal director. The company was established on June 23 last year, indicating that it had completed its business establishment before the renewal issue with SM entertainment (hereinafter referred to as SM) was born in August last year. Baekhyun, who signed a renewed contract with SM last year, will conduct “separate but together” activities through both SM and his personal business during the contract period. Fellow members Chen And Xiuminwho share Baekhyun's vision, should also be part of this company.
Earlier, on August 8 last year, Baekhyun revealed in an Instagram live stream that he was planning to run his own business and SM positively accepted this. At the time, he emphasized that he would not leave SM or EXO, stating, “I will run a business while staying with SM and continue to be active with EXO members.” » Additionally, Baekhyun refuted claims about borrowing 13 billion won (over US$9 million) to establish a state-owned company, saying it was impossible and a false claim. He clarified that the amount borrowed was a promise to himself to start his own business, adding that it was a commitment to always live carrying the burden and not neglect the management of his business.
Baekhyun is also registered as an in-house manager at a company named Primitive Signature. On this subject, he mentioned: “Primitive Signature is a company created with my friend Casper, with the intention of training good choreographers and dancers. However, my personal business will have a different name, not Primitive Signature. »
Baekhyun's “own company”, which he insisted on, is “I&V100”. He is known to have unique visions and plans to operate this business. The business scope of this legal entity includes a variety of activities typically undertaken by entertainment companies, from production to management and investment consulting. This means that Baekhyun can follow through on all of his ideas as a producer through his company. The industry expects concrete outlines of activity to emerge this year.
On this subject, SM Entertainment confirmed that the exclusive contracts with Baekhyun, ChenAnd Xiumin are still valid. They clarified that these artists' individual activities through Baekhyun's “I&V100” are part of a collaborative workshop concept. SM said: “The new exclusive contracts with the three members are still in effect. Although specific settlement terms cannot be disclosed, it has been agreed that the individual activities of the three members, within the “CBX” group, will be facilitated.