On October 17, SBS Leisure Information reported that in keeping with leisure business insiders, EXO’s Sehun and Chanyeol have signed unique contracts with a brand new company based by Jung Hoon Tak, the previous CEO of the leisure company iHQ and an advisor to the Korea Leisure Administration Affiliation. The report additional said that the 2 EXO members have reached an settlement with SM Leisure to pursue private endeavors with the brand new firm whereas sustaining their involvement in EXO’s group actions below SM.
In response to the report, SM Leisure has issued a press release debunking the rumors, stating, “It’s not true that Chanyeol and Sehun have moved to a brand new company. The contracts that EXO members signed with SM Leisure on the finish of final yr stay legitimate, and EXO actions will proceed to proceed below SM Leisure.”
SM Leisure additional clarified, “Nevertheless, regarding the members’ particular person actions, we now have conditionally allowed them to proceed by way of their very own established corporations if they need, throughout the phrases of their current unique contracts with SM.”