SHINee's Taemin Ends Contract with Big Planet Made Entertainment
Taemin's Departure from Big Planet Made Entertainment
Taemin, a member of SHINee, has officially concluded his exclusive contract with Big Planet Made Entertainment (BMPE), led by CEO Cha Ga Won. Recent reports indicate that the singer had sought to terminate his contract before its expiration. After negotiations, both parties reached a mutual agreement to part ways, with the collaboration lasting approximately one year and ten months, and notably without any significant public conflict.
Reasons Behind Taemin's Contract Termination
As reported on February 24, an insider revealed that CEO Cha Ga-Won had limited options to deny Taemin's request. Previous reports highlighted internal challenges within the agency, including delays in artist payment settlements. It was also claimed that Cha entered into a contract with an external company without Taemin's approval, which was deemed a significant error. In December 2023, Cha Ga-Won initiated a new venture called One Hundred alongside MC Mong, which subsequently incorporated Big Planet Made Entertainment.
Taemin's Journey with Big Planet Made Entertainment
Taemin transitioned from SM Entertainment in April 2024, subsequently signing with Big Planet Made Entertainment. At the time, the agency expressed enthusiasm about collaborating with Taemin, promising to support his musical endeavors and enhance his visibility. They encouraged fans to continue backing Taemin as he embarked on this new chapter of his career. However, discussions have emerged regarding Taemin's unpaid earnings during his tenure at BMPE. The agency addressed these concerns last month, stating that they were in the process of resolving the issue in line with each artist's contract and promotional commitments.
Financial Challenges for Cha Ga Won
Reports suggest that Cha Ga Won is currently grappling with financial issues, including the inability to fulfill settlement payments amounting to tens of billions of won owed to artists. These delays reportedly affect not only Taemin but also other talents associated with Big Planet Made Entertainment, such as Lee Seung Gi. Additionally, artists under the One Hundred label, including THE BOYZ, and those affiliated with another subsidiary, INB100, are also believed to be impacted.
Potential Impact of Taemin's Exit
Taemin's departure has sparked speculation within the industry regarding whether other artists under the same management will reconsider their contracts. When approached for comment about the termination, Big Planet Made Entertainment confirmed to The Fact that Taemin's exclusive contract had ended by mutual consent but refrained from disclosing further details about the situation.