EXO's Chen, Baekhyun & Xiumin Move to Exit INB100

They survived one of K-pop's most grueling label exits — only to find themselves here again.

According to a report by THE FACT on April 10, 2026, EXO members Chen, Baekhyun, and Xiumin sent a formal written notice to INB100 CEO Cha Ga Won in late March, informing her of their intent to terminate their exclusive contracts. The notice reportedly also included a demand for clarification on unpaid settlements and other unresolved matters. INB100 has yet to issue an official response.

What Happened — and How We Got Here

INB100 was supposed to be a fresh start. After years of legal battles with SM Entertainment — a saga that dragged through courts and dominated K-pop headlines — Baekhyun and Xiumin signed with INB100 in 2023, followed by Chen in 2024. The agency was founded by Cha Ga Won, a former SM-affiliated producer, and the signing of three high-profile EXO members gave it immediate industry credibility.

Less than three years later, that relationship appears to be unraveling. The core issue, according to the report, is money — specifically, settlements the three artists say they haven't received. The exact amounts and the nature of the disputed payments have not been publicly disclosed.

Why This Story Is Bigger Than Three Artists

This isn't just a celebrity dispute. It's a recurring symptom of a structural tension inside the K-pop industry.

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The global K-pop machine — valued at over $10 billion in cultural exports annually — runs on a tiered system. The major agencies (HYBE, SM, YG, JYP) have the infrastructure, legal teams, and financial reserves to manage complex artist relationships. Smaller agencies often don't. They frequently build their entire business model around a single high-profile signing, betting that the artist's existing fanbase will generate enough revenue to sustain operations.

The problem: when revenue flows in but accounting flows out unevenly, disputes follow. South Korea's Fair Trade Commission introduced a Standard Exclusive Contract template back in 2009 — revised multiple times since — precisely to address power imbalances between agencies and artists. Yet settlement transparency issues keep resurfacing, from mid-tier agency scandals in 2022 to the present case.

For Baekhyun, Chen, and Xiumin, this is particularly striking. These are not rookie artists navigating their first contracts. They are veterans with over a decade of industry experience, global fanbases, and presumably the legal resources to protect their interests. If it can happen to them, the question of what happens to less established artists becomes harder to ignore.

Different Stakeholders, Different Stakes

For EXO-L fans worldwide, the reaction is a mix of protectiveness and exhaustion. Many rallied behind these three members through the original SM dispute — a process that took years and significant emotional investment. Watching another agency conflict unfold is, for many, less a surprise than a disappointment.

For INB100, the stakes are existential. Losing three of its most prominent artists would strip the agency of its primary commercial assets. Whether the company can survive such a departure — financially or reputationally — remains an open question.

From a legal standpoint, South Korean courts have historically scrutinized the fairness of exclusive entertainment contracts closely. If this dispute escalates to litigation, it could set a precedent affecting how smaller agencies structure their artist agreements going forward.

There's also an international dimension worth noting. As K-pop continues to expand into Western markets, foreign investors and entertainment conglomerates are increasingly eyeing Korean agencies as acquisition targets. High-profile contract disputes — especially ones involving settlement transparency — could complicate those conversations.