The company made grave mistakes.
Koreaboo
4 hours ago
SHINee’s Taemin has terminated his contract with Cha Ga Won’s company. According to The Fact‘s report on February 24, Taemin recently ended his exclusive contract with Big Planet Made Entertainment. Although time remained on the contract, Taemin strongly requested termination from CEO Cha Ga Won, and the two sides concluded their partnership after about one year and ten months without major dispute.
According to an insider familiar with the situation, CEO Cha Ga Won was in a position where she had little choice but to accept Taemin’s request. As previously reported by The Fact, not only had settlement payments been delayed, but Cha also reportedly committed a serious error by signing a contract with an external company without Taemin’s consent.
Cha Ga Won
In December 2023, Cha Ga Won founded One Hundred together with MC Mong, with Big Planet Made Entertainment becoming a subsidiary at the time. After Taemin’s exclusive contract with SM Entertainment, which he had been with for 16 years since debut, ended in March 2024, he immediately signed with Big Planet Made Entertainment. Both companies are currently led by CEO Cha Ga Won.
CEO Cha Ga Won is reportedly unable to pay tens of billions of won in settlement payments to artists including Taemin. The settlement delays are said to affect not only Taemin but also artists under Big Planet Made Entertainment such as Lee Seung Gi, as well as THE BOYZ under One Hundred and under another subsidiary, INB100.
One Hundred, Big Planet Made Entertainment, and INB100 are reportedly in a state of capital impairment. In addition to unpaid artist settlements, unpaid debts to external partner companies exceed 10 billion won.
These companies appear to have reached a point where properly supporting their artists’ activities is effectively difficult, drawing attention to what steps other artists may take following Taemin’s departure.
Regarding Taemin’s contract termination, Big Planet Made Entertainment told The Fact that the exclusive contract with Taemin recently ended by mutual agreement, declining to elaborate on the reason.