Turmoil in the K-pop world! Baekhyun, Chen, and Xiumin, members of the popular Korean boy group ‘Exo’ have filed for the termination of their contracts with their agency, SM Entertainment. On June 1, Law Firm LIN, representing the members, announced that an exclusive contract termination notice has been sent to SM Entertainment on behalf of the three artists.
Accordingly, the EXO members have submitted a total of 7 requests for documents detailing the earnings and payments of all three artists from March through May. The members, who found that there was something wrong with their earnings, requested clear and transparent records of the company’s earnings calculations. It is the artist’ fundamental right to request clear data and it is SM’s duty to comply with the request.
However, SM Entertainment failed to provide them as they alleged that the company could not reveal these details to the artists. The law firm also stated that the agency forced the members to sign lengthy contracts of up to 12-13 years. Recently, they demanded the members extend their contract to an additional 17-18 years. According to the artists, being a senior in the industry, SM Entertainment abuses its power and makes the artists sign “slave contracts”.
In a statement, the artists said, “We are sorry for causing great concern to the fans with this incident. Although we are inevitably pursuing legal action due to the difference in our position with SM, we will do our best to resolve the dispute by finding a wise way so that fans do not have to worry too much.”
“Those of us who want to speak out in a small voice about the injustice that we have not been able to talk about before are actually very scared and scared at this moment. Please pay attention to our words and strong courage,” they added. The artists thus wish to convey the injustices by SM and have chosen to pursue legal action against the agency.
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