On June 10 at 4 PM KST, EXO's Chen, Baekhyun, and Xiumin (collectively known as EXO-CBX) held an emergency press conference at the Shilla Hotel, through their agency INB100, to address claims of unfair treatment by SM Entertainment.
During the press conference, EXO-CBX's legal representative, Lee Jae Hak, disclosed the details of SM Entertainment's failure to honor a verbal promise made to the group.
EXO-CBX will hold a press conference to address SM Entertainment's unfair treatment. Read more here:#EXOCBX #Chen #Baekhyun #Xiumin #INB100 #SMEntertainment https://t.co/X1G2FUTiEX
— KpopStarz (@kpopstarz) June 10, 2024
[Hot search] Netizens show full support to EXO-CBX as #BAEKHYUN, #CHEN and #XIUMIN’s agency 'INB100' announces that they will hold an emergency press conference to accuse SM Entertainment of unfair treatment. pic.twitter.com/bZDMrX9v7F
— Weibo Melons 🍉 (@weibomelons) June 10, 2024
INB100 will be holding a press conference today, June 10th to expose SM Entertainment's unfair behaviour.
— hello, 큐티 (@qtpiebyunbaek) June 10, 2024
There was a complete ending to the dispute between EXO-CBX and SM Entertainment last year June, and back then, matters were resolved through negotiations after agreement… pic.twitter.com/WpbHyckIkW
According to Lee, SM's COO, Lee Sung Soo, guaranteed the three members a 5% music distribution fee, a promise that was never formally included in their contract.
Lee explained, "There is a clause that 10% of profits generated from all entertainment activities (excluding producing activities) in the new company would go to SM. Although SM did not fulfill the agreement's terms, they insisted on receiving 10% of the sales."
Lee warned that if SM Entertainment continues to demand 10% of EXO-CBX's personal activities, the group would consider canceling or terminating their agreement with the company.
"If SM continues to request 10% of personal activities, we will cancel or terminate the agreement and respond by reviewing the criminal complaint regarding the agreement, reviewing the complaint made to the FTC, and pointing out the legal issues from last year," Lee stated.
During the press conference, EXO-CBX also revealed the reasons behind their decision to renew their contracts with SM Entertainment, despite the ongoing disputes. However, the specific motivations were not detailed in the conference.
In recent news, SM Entertainment staff member's public statement against EXO-CBX has ignited a contentious debate online. The employee's message addresses various issues including contract terms, financial transparency, and the agency's treatment of artists.
While some netizens support the staff member's claims, others accuse SM of manipulating the narrative to discredit the artists.
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Written by Cassidy Jones.
