EXO-CBX is continuing to fight against SM Entertainment. The legal representatives for Baekhyun, Xiumin, and Chen have just revealed details about their former company’s alleged breach of settlement in a press conference.
EXO-CBX’s Legal Representatives Expose SM Entertainment’s Alleged Breach of Settlement
On June 10, representatives of EXO’s Chen, Baekhyun, and Xiumin, collectively known as EXO-CBX, held a press conference to address their ongoing dispute with their former agency, SM Entertainment. P_Arc Group chairwoman Cha Ga Won, INB100 CEO Kim Dong Joon, and attorney Lee Jae Hak attended the event. INB100 is currently managing the individual activities of the three artists.
During the conference, attorney Lee Jae Hak presented significant allegations against SM Entertainment, stating that the agency had attempted to breach settlement agreements previously established with EXO-CBX. He highlighted that SM Entertainment failed to honor the agreed-upon 5.5 percent commission rate for albums and music guaranteed to INB100. Instead, SM Entertainment has been demanding an increased commission rate of 10 percent from the artists’ revenue generated through their individual activities, including solo album releases, concerts, and endorsements.
Attorney Lee Jae Hak elaborated that this move by SM Entertainment constitutes unfair practice. He confirmed that it is not in line with the settlement terms agreed upon by both parties. To address this breach, a certification of contents was sent to SM Entertainment in April. However, despite this formal communication, there has been no response from SM Entertainment, further complicating the situation.
The Fight Continues
The press conference was a critical step for EXO-CBX in making their stance public. It also sheds light on the alleged unfair practices of their former agency. Additionally, it is aimed to gather public support and awareness regarding the challenges they are facing. The dispute also highlights broader issues within the entertainment industry. This includes contract fairness and the treatment of artists.
As the situation develops, fans and industry observers are keenly watching how SM Entertainment will respond and whether the dispute will be resolved amicably or escalate further. The outcome of this dispute could also potentially set a precedent for future contractual agreements and artist-agency relationships in the K-pop industry. For now, EXO-CBX also continues to stand firm in their position, advocating for fair treatment and the rightful fulfillment of their agreed terms.