(UPDATE) K-pop star Baekhyun has launched an independent label, where he will be joined by fellow EXO members Xiumin and Chen, according to a report.

The company I&B 100 will handle the solo activities of the three idols as well as those for their sub-unit EXO-CBX, K-pop news website Soompi reported Monday, quoting an unnamed source from the new agency.

"We plan on further highlighting the members’ musical individualities and colors," the source said, as per the Soompi report.

Despite this, the trio remain as artists under SM Entertainment for their activities as EXO, based on the report.

Also on Monday, I&B 100 launched X (formerly Twitter) pages for Baekhyun, Chen and Xiumin, unveiling profile photos for the artists.

[#백현] NEW PROFILE #1
⠀#BAEKHYUN #INB100 #아이앤비100 pic.twitter.com/OK4HpqVIs8

— BAEKHYUN_official (@BAEKHYUN_INB100) January 8, 2024

[#시우민] NEW PROFILE #1
⠀#XIUMIN #INB100 #아이앤비100 pic.twitter.com/HCLxubT5gu

— XIUMIN_official (@XIUMIN_INB100) January 8, 2024

[#첸] NEW PROFILE #1
⠀#CHEN #INB100 #아이앤비100 pic.twitter.com/SwLyy8hccB

— CHEN_official (@CHEN_INB100) January 8, 2024

Last year, the three singers were embroiled in a contract dispute with SM. They later reached an agreement, deciding to stay at the company.

• EXO's Chen, Baekhyun, Xiumin stay at SM Entertainment after 'resolving differences': report

EXO's group activities

In a separate statement, SM assured fans that EXO — which also includes Suho, Chanyeol, D.O., Kai and Sehun — would continue as an eight-piece group despite some of the members having contracts in other companies.

"All eight members of EXO will continue activities together as EXO," SM said in a statement translated into English by Soompi.

"In addition to showcasing new music and performances, they plan on greeting fans without change through EXO’s fan meeting scheduled for April as well as through various activities," it added.

Only D.O. has officially left SM Entertainment but he "agreed to [still] partake in EXO activities," the agency said.

• K-pop singer D.O. to leave SM Entertainment, stay in EXO
• EXO's D.O. preparing to release solo album: report

Debuting in 2012, EXO is known for songs such as "Growl," "Ko Ko Bop" and "Love Shot."

Last year, the group released its seventh studio album "Exist."

For more news and features on K-pop, K-drama, and K-stars, visit the Hallyu Corner microsite.

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