On July 25, entertainment label 51K released an official statement to the press to announce that they have signed an exclusive contract with 2PM's Taecyeon.
"Hello, this is 51K. We have become a new family with singer/actor Ok Taecyeon. We are incredibly glad to be able to work with Taecyeon, who is undeniably considered one of Korea's best artists as a member of 2PM, in addition to being an actor with insurmountable potential, passion, and talent.
We will not withold any of our full support so that Taecyeon can continue his activities as a singer with his artist background and the strength of the numerous fans behind him, but also so that he can display his abilities and charms in acting through various projects.
We will also put in our best efforts so that Taecyeon can continue his 2PM activities in partnership with JYP Entertainment, as he has received love from fans all over the world through his group 2PM.
51K began as a one-man acting agency, but is on the cusp of growing into an all-around company, working in publishing, record and music distribution, broadcasting contents, etc. We are very lucky to have the chance to work with the multi-talented artist Taecyeon, as we reach for the company's growth.
Taecyeon, who is currently serving his mandatory military service, is also glad to be starting anew with 51K, and sends his vow to return with a more mature and improved image in order to repay fans for their love.
Again, we will work tirelessly so that Taecyeon's various skills can shine even brighter through his activities in not just Korea, but Asia and beyond. We ask for your abundant love and attention toward Taecyeon's future activities with 51K. Thank you."
As a result, it seems that Taecyeon is the only 2PM member to not renew his contract with JYP Entertainment; however, he has chosen an entertainment company which will allow him to go back and forth in a partnership with JYPE in order to continue his activities with 2PM! Meanwhile, 51K is home to actors So Ji Sub, Hong Hwa Ri, Yoon Chae Sung, and Lee Hyo Jae.