Taemin and Big Planet Made Contract Termination Overview
Taemin, a member of SHINee, has reportedly terminated his exclusive contract with Big Planet Made, led by CEO Cha Ga-won. Big Planet Made confirmed through an official statement that the contract with Taemin has ended, marking the conclusion of approximately 1 year and 10 months of partnership following his transfer in March 2024.
According to entertainment industry sources, the exclusive contract between the two parties originally had remaining duration. Despite this, Taemin strongly requested the contract termination from the company, and both parties eventually agreed to part ways mutually. Taemin's side has not officially disclosed the specific reasons for the separation.
Unpaid Dues and Staff Salary Coverage Issues
Financial problems are being identified as the primary background for the contract termination. It has been revealed that Taemin covered portions of staff salaries using his personal funds to maintain ongoing collaboration with existing staff members. This situation, combined with the company's unpaid expenses, appears to have led to a breakdown in the trust relationship.
Additionally, allegations have emerged that CEO Cha Ga-won committed serious oversights in contracting with external vendors without Taemin's consent. As these financial issues accumulated, Taemin reportedly lost trust in the company. While Taemin released the mini 5th album 'ETERNAL' in the same year after joining Big Planet Made in March 2024, the fact that only the special single 'Veil' was released beforehand raises questions about potential impacts from unpaid album production fees.
Financial Suspicions Surrounding CEO Cha Ga-won
CEO Cha Ga-won currently operates several entertainment companies including One Hundred, Big Planet Made Entertainment, and INB100. However, various financial allegations have been raised regarding these companies. Media reports have covered allegations that Cha Ga-won failed to pay several billion won to external vendors involved in artists' album production.
Additionally, reports emerged that CEO Cha Ga-won took multiple luxury products on credit from department store luxury sections without payment, resulting in the seizure of his Hannam-dong villa. In response, Cha Ga-won's side stated that the reported content differs from the facts and could infringe on his reputation and rights. However, suspicions regarding financial issues surrounding the company continue to be raised.
Current Status of Big Planet Made Artists
Big Planet Made Entertainment was launched in December 2023 as a subsidiary of One Hundred, established by MC Mong and CEO Cha Ga-won. The company is currently known to have artists from various genres, including Lee Seung-gi, Lee Su-geun, Lee Mujin, Ha Sung-woon, Ren from NU'EST, Eunha, Sinbi, and Umji from GFRIEND.
This content is general information compiled based on publicly available materials. Please verify accurate details through official announcements from relevant institutions.
