BREAKING: SM Entertainment Says ‘External Forces Are Approaching SM Artists’ In Response To EXO’s Baekhyun, Chen And Xiumin Contract Termination Notice + To Take Legal Action

Published Categorized as Kpop

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 this year, we presented a new vision as a global leading entertainment company through our SM 3.0 strategy. We have been continuously improving our corporate governance and striving to meet the high expectations of our fans.
However, we have recently identified external forces that are approaching our artists during this crucial time when we are preparing for a new leap. These external forces are providing false information and incorrect legal evaluations, disregarding our exclusive contracts, and making unreasonable proposals for artists to enter into contracts with them. It is important to note that these external forces have no genuine concern for the well-being of the artists. They engage in illegal activities such as using ambiguous language, defamation, and manipulation to influence our artists into making wrongful judgments, violating exclusive contracts, or entering into double contracts.
Furthermore, these external forces not only entice our artists to violate valid exclusive contracts with us but also attempt to lure other artists within our agency into contract breaches or double contracts.
Their actions are clear acts of illegality and reveal their intention to create conflicts between our agency and artists, as well as among the artists themselves. Such attempts fundamentally undermine the trust of our dedicated fans and go against the principles of a healthy future for the K-pop industry. We cannot tolerate these unlawful acts that not only destroy the trust but also jeopardize the reputation, image, and future prospects of our talented artists.
We will not overlook the motives of those driven solely by greed, disregarding the essential aspects such as the artists’ futures and their legitimate legal rights. We will take all possible legal measures to address this issue. Failing to do so would result in severe damage to our artists’ reputation, image, and potential, as well as hinder the overall growth of the K-pop industry.
We are determined to vigorously respond to the unlawful actions of these impure external forces and demonstrate our commitment to genuinely loving and supporting our artists, in line with the high expectations of our fans.

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.

Source: (A)

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