EXO's Chanyeol and Sehun Reportedly Leaving SM Entertainment and Signing With New Agency for Individual Activities

UPDATE: SM Entertainment releases an official announcement, denying SBS Korea's coverage

On October 17th, according to an exclusive coverage by SBS Korea, EXO's Sehun and Chanyeol will sign exclusive contracts under a new agency to pursue more diverse individual activities apart from their group activities, which will continue under SM Entertainment.

Until recently, the two singer-actors had a long discussion with SM Entertainment regarding the direction of their solo activities and eventually agreed to transfer to a new company. However, it is said that the group activities will be carried out with SM Entertainment as they are now. Sources say that only the official announcement is left now.

The unnamed agency, which will be the new home for Chanyeol and Sehun, is said to be established by Jung Hoon-tak, a former CEO of iHQ Entertainment agency and an advisor to the Korea Entertainment Management Association.

The EXO members' situation is similar to Super Junior's Eunhyuk, Donghae, and Kyuhyun who recently left SM Entertainment but will continue to participate in Super Junior's group activities.

Source