Baekhyun's Beon Entertainment Officially Registers in Cultural Arts Planning Industry

EXO-CBX member Baekhyun is set to make a fresh start in the entertainment industry. Sports Kyunghyang reported on the 10th that Beon Entertainment, led by Baekhyun, has completed its registration as a cultural arts planning business.

Established in September, Beon Entertainment aims to focus on music production, distribution, event planning, and artist management. With an initial capital of 100 million KRW (approximately 75,000 USD), the company recently moved its headquarters from Yongsan District to Yeoksam-dong in Gangnam District, Seoul.

CBX, consisting of Chen, Baekhyun, and Xiumin, notified SM Entertainment of their contract termination in June 2023. The following year, CBX and their agency INB100 filed fraud charges against SM executives Lee Sung-soo and Tak Young-jun under the Act on the Aggravated Punishment of Specific Economic Crimes. They alleged that SM failed to honor the agreed 5.5% royalty rate for music releases and misappropriated 10% of their individual activity earnings. SM refuted these claims, stating they had allowed individual activities through personal corporations and agreed to a 10% revenue share, as per the signed agreement. Both police and prosecutors dismissed the allegations.

In April, CBX moved to terminate their contract with INB100, citing unpaid settlements. They filed for a provisional injunction in August to suspend the contract and initiated a lawsuit to nullify it. The court ruled in favor of CBX, stating that the trust between the parties had been compromised due to INB100's actions. This decision suspends the contract's effects until a first-instance ruling on its validity, effectively allowing CBX to pursue independent activities without interference from INB100.