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On August 8, 2023, Baekhyun conducted a live stream on Instagram to personally clear up the many rumors circulating online about his future as an EXO member and an SM Entertainment artist. He also addressed the reports of news publications claiming that he had set up his own company.
The Bambi singer mentioned that he was in the process of opening a new label with his friend Kasper and said that SM Entertainment supported his decision. However, on August 9, the agency released a statement denying that they knew about the existence of the idol's company.
As both the statements were contradictory, EXO's fans sided with the Bambi singer and trended #WeStandwithBaekhyun on Twitter.
SM Entertainment releases statement clarifying Baekhyun's activities as an EXO member, denies knowing about his new agency
On August 9, SM Entertainment released a statement about Baekhyun's future activities that led to increased criticism and doubts in the EXO-L fandom. The agency clarified that Chen and Xiumin's contracts have not yet expired and have been amended but the Bambi singer's will only remain valid till January next year. This was in response to the public legal battle between the trio and the company.
The agency added that the trio will continue their group activities as EXO while also pursuing their individual activities. Furthermore, it also stated that it has been planning a solo album release for the Bambi singer, which is scheduled to take place this year.
In addition to this, SM Entertainment also mentioned that it was unaware of One Signature, the Bambi singer's solo company, contrary to what the singer mentioned during his live stream.
“Our company had never heard anything about this before, and we learned about it through the news. Although we are flustered [by the sudden news], we trust that [Baekhyun] will keep the promises he made during our mutual agreement,” they said.
Fans react to Baekhyun's Instagram live and SM Entertainment's statement
The EXO fandom was confused after Baekhyun ended his Instagram live. During the same, he shared that he was in the process of creating his own agency with his friend Kasper to explore new horizons as a producer and an artist.
The agency is currently named One Signature but will be launched with a different name in the future. He also mentioned that he would continue to promote with EXO and not cause harm to any of his fellow group members.
The Bambi singer had also reportedly added that he received support from SM Entertainment regarding his new venture. Additionally, he mentioned that he was currently not working on any music or album. However, SM Entertainment's statement refuted these details.
The EXO-L fandom then trended his name on Twitter and expressed their unparalleled support for the singer. They urged fellow fans to only trust the singer and not the agency. They also criticized SM Entertainment for its poor artist management.
Meanwhile, it remains to be seen if the Bambi singer will make a solo comeback this year as announced by SM Entertainment.
