According to an article released today, CHEN, BAEKHYUN & XIUMIN to leave INB100, Notifies Cha Gawon of Contract Termination.
On the 10th, an investigation by The Fact revealed that singers Chen, Baekhyun, and Xiumin sent a certification of contents (legal notice) to Cha Gawon, the representative of INB100, at the end of March. The notice demanded answers regarding contract violations, including unpaid settlements, and notified the company of their intent to terminate their exclusive contracts. Although more than two weeks have passed since the request for a response, CBX has reportedly not received a satisfactory answer.
INB100 is the company Baekhyun established while preparing for his independence from SM Entertainment. Later, in May 2024, it was absorbed as a subsidiary of One Hundred, a company co-founded by Representative Cha Gawon and MC Mong. Since then, as Cha became the majority shareholder, she has led INB100 alongside One Hundred and Big Planet Made Entertainment.
However, it has been revealed that while Representative Cha signed large-scale contracts using CBX’s Intellectual Property (IP) and received tens of billions of won in advance payments, she drove the company into a state of complete capital impairment (where liabilities exceed total assets). The unpaid settlements owed to CBX are also understood to reach billions of won. Furthermore, because costs have not been paid to partner companies and staff, CBX has been placed in a situation where it is difficult to carry out normal promotional activities.
Regarding this matter, a representative for Cha Gawon told The Fact, "We are working toward the normalization of the company. We will make efforts to resolve the issues by attracting additional investment or even by using personal funds."
Prior to CBX, a string of artists have already notified the company of their contract terminations and left, including the group The Boyz from One Hundred, and Taemin, Lee Mujin, BE'O, the girl group VIVIZ, and singer-actor Lee Seunggi from Big Planet Made Entertainment. Currently, there are almost no singers left under Representative Cha’s umbrella.
andulkaphoto
prguitarman
titsay
stormborns
jbbartram-illu
jacobvanloon
blakekathryn
