SM Entertainment releases detailed new statement on EXO-CBX's contract termination
The K-pop world is taken by storm after EXO members Baekhyun, Xiumin, and Chen released a statement about terminating their contracts with their agency, SM Entertainment. Initially, the agency shared a statement responding to the trio's statement and called it "outside forces approaching their artists." Now the agency has shared a detailed additional statement refuting the claims made by the trio's legal representative.
Agency addressed payment-related queries
The trio alleged that the agency was unclear on their earning records. To this, SM stated, "Payments (were) carried out every month, settlement reports available for viewing at any time. Artists did not raise issues regarding settlements. Although the settlement reports are available for viewing at any time, they are requesting copies for different purposes and are using (those) as reasoning for contract termination."
Agency on contract-related queries
The agency addressed several points. They emphasized details of existing and new contracts. They stated, "Validity and legitimacy of the contract period have been acknowledged by the Supreme Court...In the case of the new exclusive contracts signed on December 30, 2022, they are the contracts completed after discussing the terms in detail with a lawyer from a large law firm assigned by the members."
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