Galaxy Corporation has denied rumors of exclusive contract discussions with singer Baekhyun.

On the 22nd, Galaxy Corporation officially stated, "We are not discussing an exclusive contract with Baekhyun." On the same day, some media outlets reported that Baekhyun was negotiating an exclusive contract with Galaxy Corporation, but the company denied this.

In 2024, Baekhyun established the independent label INB100 and began new activities alongside Chen and Xiumin. Subsequently, INB100 was incorporated as a subsidiary under Chairman Cha Ga-won's One Hundred. However, recently, issues such as unpaid settlements have arisen, leading Chen, Baekhyun, and Xiumin to send a certified letter notifying the termination of their contracts to Cha Ga-won, CEO of INB100.

They requested a response regarding the unpaid settlements and contract violations but reportedly did not receive a satisfactory reply. Additionally, Taemin, B.O., Lee Mujin, The Boyz, and VIVIZ are also said to have sent certified letters notifying contract termination to One Hundred.

Meanwhile, Galaxy Corporation has recently signed several artists, including G-Dragon, Song Kang-ho, Kim Jong-kook, and Taemin, formerly of SHINee. Taemin has previously worked with Baekhyun under SM Entertainment and labels affiliated with One Hundred.