According to an exclusive report by 'Ilgan Sports' a music insider revealed, "Key and Woohyun have formed a subunit to debut toward the end of this February and will bring music and performance that is totally different from their respective groups."
The media outlet states that they've confirmed with a rep from the agencies, who reportedly stated, "At the earliest, they plan to release an album next month or in March or April at the latest. We are exploring their various potential and forming an optimum combination... The team name has not been set yet and they are currently preparing for recording. It would be good to anticipate the synergy effect of the two same-aged members."
Although this might have sounded completely off in the previous years, it doesn't seem so now with the merger of SM Entertainment's SM C&C and Woollim Entertainment. We've also been seeing TASTY, another Woollim artist, joining SMTOWN concerts and opening for Girls' Generation, so a unit between a SHINee member and INFINITE member does sound quite possible.
Stay tuned for any updates that may come!
[Update] - SM Entertainment has responded to this report, offering statements to two different media outlets. To TVDaily as well as Osen, the agency stated, "We are currently in talks about promotions for a Key and Woohyun unit, but we have not decided on any details or time period." It's said Woollim has also offered a similar response about nothing having been confirmed as of yet.