SM Entertainment refute claims that EXO-SC's Sehun and Chanyeol are set to join a new agency

It would appear that YG Entertainment and BLACKPINK aren’t the only K-Pop entities that are having difficulty regarding contracts for their solo efforts. You can now add Sehun and Chanyeol from SM Entertainment group EXO to the list as the K-Contract season continues in South Korea. 

Originally reported by Koreaboo, an exclusive report by Seoul Broadcasting System (SBS) alleges that the pair will be signing an exclusive contract with a new, unnamed agency for their individual activities - currently, the solo opportunities while Kai is currently enlisted are something SM Entertainment would have thought about. 

However, given that Chanyeol and Sehun are younger than the other members, their enlistment is a long way off, which is perhaps why, if the reports are true, they are looking at their careers post-mandatory enlistment. Recently, Sehun and Chanyeol have been in talks with SM Entertainment regarding their future activities. 

Following extensive discussions, both artists have decided to transition to a new company, but as part of the agreement, Sehun and Chanyeol will continue to participate in group endeavours with EXO under the management of SM Entertainment. SBS reported that the agency the pair will be signing with for their individual promotions is a new agency established by former iHQ CEO Jeong Hoon Tak that is yet to have a name.

SM Entertainment released a statement regarding the report, stating, “It is not true that Chanyeol and Sehun have moved to a new agency. The contracts that EXO members signed with SM Entertainment at the end of last year remain valid, and EXO activities will continue to proceed under SM Entertainment.” SM Entertainment further clarified, “However, in regards to the members’ individual activities, we have conditionally allowed them to proceed through their own established companies if they wish, within the terms of their existing exclusive contracts with SM.” (Credit: Soompi)