Chen, Baekhyun and Xiumin have informed INB100 that they’re terminating their contracts.
INB100 and CEO Cha Ga Won’s team spoke to NEWS1 about the situation, saying, “We are working to get the company back on track.” They added, “We’re trying to resolve this by securing additional investment or even using our own funds.”
Earlier today, a report revealed that Baekhyun, Chen and Xiumin sent a certified letter to CEO Cha Ga Won at the end of last month. In the letter, they asked for an explanation regarding unpaid earnings and other contract issues, officially notifying the company that they were ending their contracts.
INB100 was founded by Baekhyun and later became a subsidiary of One Hundred Label, which was co-founded by CEO Cha Ga Won and MC Mong, in May 2024.
Right now, One Hundred and its labels are facing a mass exodus of artists, mostly due to unpaid earnings. Reports say nine members of THE BOYZ, along with VIIVIZ, Lee Mujin, BEO and Lee Seung Gi from Big Planet Made Entertainment, have also terminated their contracts.
However, lawyer Hyun Dong Yeop, representing CEO Cha Ga Won, issued a statement today, saying, “We will take all legal actions—both civil and criminal—against the spread of false information and defamation, in order to normalize the company and protect our artists.”
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