SM Entertainment has issued a response to the recent shocking news of three EXO members demanding the termination of their exclusive contracts.
EXO members Chen, Baekhyun and Xiumin have notified their agency, SM Entertainment (hereinafter referred to as SM), of their intention to terminate their exclusive contracts. In response, SM pointed out that there are external forces that are enticing artists to violate their exclusive contracts or engage in double contracts by providing false information and incorrect legal evaluations.
On the 1st of June, SM issued an official statement, it reads as follows:
Earlier on the same day, Baekhyun, Xiumin, and Chen announced through their legal representatives that they had notified SM of their termination of exclusive contracts. They stated that SM had refused repeated requests to disclose settlement data and were attempting to enforce minimum contract periods of at least 17 or 18 years through subsequent exclusive contracts.