SEE ALSO: NewJeans, CL, Jay Park, Jung Ho Yeon, and Gigi Hadid gather and take photos together

She's rumored to have been spotted at the headquarters of the agency frequently and has apparently been in meetings with the agency reps. "It seems like a connection was established while Hwayoung was looking for an entertainment company that could help her with both her singing and acting career," a source revealed.

The connection was reportedly made thanks to the help of composer Shinsadong Tiger who set up a meeting between the agency and Hwayoung when he found out that the agency was looking to produce new content.

Wellmade Ent., as part of Wellmade StarM, is a big name in the field of entertainment with their influence spreading wide in the areas of dramas as well as movies with their line up of actors. They also house singers as well, making it seem like the perfect choice for Hwayoung who seems to want to try her hand at both acting as well as keeping true to her roots in music.

Keep in mind, nothing has been confirmed by either party at this point, so we'll have to keep our fingers crossed as we hope that these rumors turn out to be true!

Source: StarIn via Nate