Big news hit the K-pop industry this week. Lee Chaeyeon, the former main dancer of IZONE and a successful soloist in her own right, is officially on her own after leaving WM Entertainment, where she spent seven years. Not only did Lee Chaeyeon make headlines that day, WM Entertainment also said goodbye to its founder and CEO Lee Won-min who also reported his departure. So, with no clear leader at WM Entertainment, what does this mean for the company? And for the future of Lee Chaeyeon?
Although the news could’ve negatively affected the stock prices of parent company RBW Inc. on KOSDAQ, the opposite happened, as relentless investors snapped up stock signalling a belief in the agency’s future.
So, the question is, what’s next? What’s next for Lee Chaeyeon and WM Entertainment without Lee Won-min?
Official Statement From WM Entertainment
In its official announcement, WM Entertainment stated that it would no longer have an exclusive contract with Lee Chaeyeon and referred to this as a “mutual decision after long discussions.”
The company said it will continue to support Chaeyeon through her planned activities to ensure a smooth separation, as well as expressing their gratitude for her growth and accomplishments as a member of IZONE, member of WM and a solo artist.
Lastly, the agency expressed its appreciation to the fans for their “steadfast love and support” through the years, and encouraged them to continue to support Chaeyeon as they transition to a new chapter.
Lee Chaeyeon’s Journey So Far
Early Career & Training
Lee Chaeyeon trained at JYP Entertainment prior to her debut, and she competed in the 2015 reality show Sixteen with her younger sister, Lee Chaeryeong (currently a member of ITZY). While Chaeyeon did not debut in TWICE from the reality program, her determination helped her stay on the path to become an idol.
Produce 48 & IZ*ONE Era
Chaeyeon was a representative for WM Entertainment on Mnet’s survival program, Produce 48, where she was able to secure a spot as one of the 12 winners, officially debuting in the Korean-Japanese project girl group, IZ*ONE. The group had a great deal of success, selling almost three million albums before disbanding in April 2021. During her time in the group, Chaeyeon was recognised as the group’s main dancer and lead vocalist, noted for her stage presence and versatility.
Solo Debut & Achievements
Chaeyeon made her solo debut in October 2022 with her first EP, Hush Rush. Following this, her real breakout came in her second release, Over the Moon, with the single, “Knock,” which made it onto South Korea’s Top 30 singles chart and had over 45 million views on YouTube. Between 2022 and 2024, she released a total of four EPs with over 100,000 units sold combined. Building upon her talent, Chaeyeon made her acting debut in 2025 portraying a lead role in the web drama Fresh Romance.
The Bigger Shake-Up at WM Entertainment
CEO Lee Won-min’s Exit
As well as Lee Chaeyeon’s exit, WM Entertainment also experienced a major leadership change. Lee Won-min, founder and CEO who had led the company for 17 years, was removed by parent company RBW Inc. in August 2025.
According to reports, Lee Won-min’s removal was triggered mostly by declining profitability and internal conflicts, and struggles with artist management. Additionally, Lee Won-min’s departure caused a domino effect of changes, with multiple senior executives also leaving the company. WM Entertainment is now supervised by RBW co-CEO Kim Jin-woo, who has taken control of the subsidiary.
Impact on WM’s Legacy
Under Lee Won-min, WM Entertainment developed a rich history built on future K-pop stars B1A4, Oh My Girl, and ONF, Forward to June 2025, WM has now debuted USPEER, the label’s first girl group in ten years.
WM has also seen setbacks as well. Members like YooA and Arin from Oh My Girl and Baro and Jinyoung who previously were members of B1A4 have had their contracts terminated, however they still share a connection with their groups.
WM has experienced some notable successes, their record over the years quite literally shows the story of a mid level K-pop company that has faced both success and hardship.
Stock Market Reaction – RBW Inc.
Amazingly, the simultaneous exits of Lee Chaeyeon and CEO Lee Won-min did not hinder the market. Rather, they pushed RBW Inc.’s share price up, showing that investors are confident in the company’s direction over the long haul.
On September 12, the RBW stock closed at 2,345 KRW, an increase of 2.63% for the day and 5.87% for the week overall. Investors seem confident RBW can not only stabilize WM Entertainment, but also continue growing its various subsidiaries.
Public & Fan Reactions
When Lee Chaeyeon’s departure was announced, there was no shortage of emotion from fans, and within the wider K-pop community. Many expressed excitement and enthusiasm for Chaeyeon, but fans also raised flags about WM Entertainment and its stability.
There was raised speculation if it was coincidence that Chaeyeon left after CEO Lee Won-min had been ousted, or a sign of something bigger going on at the agency.
Chaeyeon has many loyal fans remaining hopeful that she can find an agency that offers better management and better opportunities. The discussion surrounding Chaeyeon’s solo career is polarized; she is widely regarded as one of the best K-pop dancers, however, many found her solo promotions under WM to be poorly managed and lackluster.
What’s Next for Lee Chaeyeon?
With Lee Chaeyeon officially leaving WM Entertainment, everyone will be paying close attention to her next move. Industry insiders are assuming that she will sign with a new entertainment company who can deliver a better promotional strategy and, ultimately, maximize her full potential as both a singer and as a performer.
Fans are excited to hopefully see Chaeyeon return with dance-centric songs that will allow her to show her world-class capabilities that were seemingly wasted on WM – in fact, many fans were eager to see Chaeyeon dance again.
Not only are there possibilities for Chaeyeon’s music career, but her latest success with web drama Fresh Romance (2025) also opens the door for her to explor acting opportunities in the future, as well.
A slightly lesser-seen, but nevertheless fun possibility would be to see a future collaboration with her younger sister, Lee Chaeryeong from ITZY. The two of them (and the band of course) share a very special bond through their respective careers, along with continued simultaneous career trajectories. Fans of both have long wanted to see the two perform side-by-side on stage together.
As she embarks on this new chapter in her life, one thing is certain: Lee Chaeyeon is not done yet – and her best days could still be ahead of her.
Future of WM Entertainment Under RBW
As Lee Chaeyeon moves forward, the future of WM Entertainment remains in question in the wake of its parent company’s impending changes, RBW Inc..
It’s assumed that the boy group ONF will continue with their album project as fans have been told that a second full-length album is on the way. The newest girl group under WM, USPEER, made their debut around the middle of 2025, and there are some pretty good early signs, as the girls generated solid sales for a rookie act.
Looking at the mightily successful established groups of B1A4 and Oh My Girl, the outlook is less favorable, as both have released limited music this year, and for some members, already have chosen to not renew their contracts.
Some sources say that the previous CEO change and Chaeyeon’s departure will lead to RBW further restructuring WM Entertainment, while others are also cautious that any new approaches could affect the label’s method of developing artists and building creative processes to promote them.
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Conclusion
Lee Chaeyeon’s departure signals the end of her 7-year tenure with WM Entertainment, concluding an important chapter in her career. With the recent termination of CEO Lee Won-min, this decision represents a fundamental shift in how WM Entertainment will operate under RBW.
For Chaeyeon, this departure ushers in new opportunities and creative freedom, while the organization will now need to contend with questions about its future stability and direction.
Fans, industry observers, and even investors alike are anticipating what arrives next – for Chaeyeon, who has an evolving career, and for WM/RBW in their transition.
