The trio's agency has released an official statement.
On June 10, Korean news outlet Newsen released a report sharing that EXO-CBX members Chen, Baekhyun, and Xiumin will hold a press conference on the afternoon of the 10th.
Newsen
According to sources, INB100 shared that a negotiation occurred after EXO-CBX had taken legal action against SM Entertainment due to unfair treatment and successfully terminated their exclusive contracts with the agency.
Baekhyun's company shared that the conflict was resolved through a negotiation, which led INB100 to be assigned as the company responsible for EXO-CBX's activities.
Unfortunately, the agency shared that SM had failed to comply with the agreement and has also demanded a 10 percent portion of its sales.
INB100 stated that due to SM's inactivity and its decision to ignore the agreement, the upcoming conference would aim to report the agency's unjust behavior. Read the statement below:
"In June last year (2023), EXO-CBX filed legal actions such as the termination of exclusive contracts and a lawsuit with the Fair Trade Commission through a joint statement with SM Entertainment.
During that time, the two parties resolved the situation through negotiations, as both sides agreed that it was important for EXO to continue its normal activities more than anything else.
According to the agreement concluded at that time, INB100 was established to carry out the activities of EXO-CBX and its individual members.
However, SM Entertainment continued to ignore the negotiated terms, which were the foundation of the agreement, and has also demanded 10 percent of the revenue from the artists' solo activities under INB100.
Moreover, INB100 has sent proof of unfair treatment, but SM Entertainment has not responded to the matter for more than two months. We intend to denounce SM Entertainment's unfair actions."
On social media platform X (Twitter), Eris reacted to the update, as many were angered by SM Entertainment's choice to ignore the agreement. Meanwhile, some were looking forward to the highly-anticipated press conference.
Read their reactions below:
SM, you definitely have a special place in hell because hoping for your downfall isn’t enough and the artists who are still under your company don’t deserve the ill wishes.
SM demanding 10% of CBX's solo sales revenue is INSANE considering SM put NOTHING into their solo careers. lmfao, drag their asses @INB100_official!!!!!! https://t.co/GEugGDExqJ
— 𝑴𝒂𝒚𝒃𝒆𝒍𝒍𝑨𝒆𝒓𝒊🍒🍓| ⓒⓨ➊ 🍍 (@Aeri1485Maybell) June 10, 2024
sm asking “10% of sales from their individual activities” OH HELL NAH SM IS REALLY NASTY AND NOT SEEING THE LIGHT OF HEAVEN 🤨🤨🤨🤨 https://t.co/bN9Ty8vmiW
cheering for exo-cbx and the entire INB100 staff for their bravery and always fighting for what is right and fair. sm really messed with the wrong people, their karma is finally here! CEO BAEKHYUN, FIGHTING 🥹🫂 https://t.co/rT84rSIUdj
Yoooo whaaaaat the fuuucckkkkk SM is trying to take a piece of their individual albums/activities...
The whole point of INB100 was it being a SEPARATE company from SM for Baekhyun, Chen, and Xiumin's solo albums and other endeavors... God I hate SM so much https://t.co/LjVj4MIQRL
— Mintella ✴︎ iNSTEAD! (@mintelladarling) June 10, 2024
— Letuce leave 5 star reviews only🍞 (@SKZ_lettuce) June 10, 2024
Despite being an established company for years, SM still seems to lack an understanding of professionalism. Asking for 10% of sales for work solely done by the boys and INB100 just shows how much of a bully they can be. Disgusting https://t.co/g2NgSHSLW8
what's the point of having an indiv company if the other would still benefit from their indiv activities plz. make it make sense @ sm https://t.co/SWd6nxBkI1
