According to industry insiders, the duo will sign exclusive contracts with a new agency to pursue diverse individual projects.
The duo reportedly had extensive discussions with SM Entertainment regarding their future career directions and untimately reached an agreement to join a new agency, while their group activities as EXO members will continue under SM Entertainment.
The new agency, where the two stars are set to embark on their solo journeys, is reported to be founded by entertainment producer Jung Hoon Tak. Jung Hoon Tak, a former CEO of iHQ, also serves as an advisor to the Korean Entertainment Management Association.
Notably, Sehun and Chanyeol previously collaborated as the subunit EXO-SC, releasing music and captivating fans. Their decision to explore individual careers is generating anticipation among fans, who eagerly await their future endeavors. Stay tuned for more updates on their exciting solo ventures.
In response, SM Entertainment refuted rumors regarding the departure of EXO members Sehun and Chanyeol from the agency.
SM Entertainment stated on October 17th to Newsen, “The claims about Chanyeol and Sehun leaving their agency are not true. The contracts between SM and the EXO members, which were signed at the end of last year, remain valid, and EXO’s activities continue under SM.” They went on to explain, “However, we have agreed to conditionally permit the members to pursue their individual activities through companies they establish, while still being under an exclusive contract with us.”