EXO’s Baekhyun, Xiumin and Chen inform SM Ent of contract termination.
EXO members Baekhyun, Xiumin and Chen have informed the group’s agency SM Entertainment of the termination of their contracts.
In a shocking turn of events, EXO members Baekhyun, Xiumin, and Chen have informed SM Entertainment of the termination of their exclusive contract with the agency. It is reported that the law firm Lin has sent a notification to the agency on June 1 through all three. This news has brought a surprise for the fans. However, many EXOLs voiced their support.
As reported by AllKPop, the EXO members approached SM Entertainment requesting a clear and transparent record of the company’s earnings calculations – a fundamental right of artists – when they felt there could be problematic aspects of the company’s earnings. Are. However, the agency reportedly refused to reveal the information.
To top it off, SM forced artists to sign contracts with them that would force artists to stay at the agency for at least 17 to 18 years. With these issues in mind, all three issued notices to terminate their contracts. According to a report by Soompy, Baekhyun, Xiumin and Chen’s legal representative said in a statement, “From March 21 until recently, the three members sent a certification of content a total of seven times and through it they requested a copy. Transparent Settlement report and basis for settlement.”
“Not providing settlement data is a reason for terminating the exclusive contract. As of today, SM Entertainment has been notified of the termination of the existing exclusive contract. As JTBC News reports, the artists emphasized that They plan to take all civil and criminal legal action against SM Entertainment, including a lawsuit seeking payment of the settlement money while they investigate the exact details of the settlement.
“I apologize for causing so much concern to fans with this incident, and I am sorry. Due to the difference in status with SM Entertainment, we are essentially taking legal action, but we are working to resolve the dispute. Will find an intelligent way of
Baekhyun, Xiumin and Chen have been part of the seven-member K-pop group, EXO, since 2012. The trio is yet to issue a first person statement regarding the development.
