Update: EXO’s Chen, Baekhyun, And Xiumin’s Legal Representative Details SM’s Alleged Breach Of Settlement At Press Conference

Updated June 10 KST:

On June 10, representatives of EXO’s Chen, Baekhyun, and Xiumin (EXO-CBX) held a press conference to relay their official stance regarding their dispute with SM Entertainment.

p_Arc Group chairwoman Cha Ga Won, INB100 CEO Kim Dong Joon, and attorney Lee Jae Hak were in attendance at the press conference. INB100 is the label that manages the individual activities of Chen, Baekhyun, and Xiumin.

At the press conference, attorney Lee Jae Hak alleged, “SM Entertainment is not fulfilling the 5.5 percent commission rate for albums and music guaranteed to INB100 as part of the settlement condition.” The attorney continued, “They are engaging in unfair practices by demanding 10 percent of the artists’ revenue generated from individual activities such as individual album releases, concerts, and advertisements.”

Attorney Lee Jae Hak explained at the press conference that although they sent a certification of contents to SM Entertainment in April regarding the breach of settlement, they have yet to receive a reply. He stated, “The agreement no longer has any meaning, so we will cancel the agreement made on June 18 [on the causes of] fraud or terminate it on the grounds of non-fulfillment of obligations. We will also consider filing a criminal complaint and a complaint with the Korea Fair Trade Commission regarding the process of signing the agreement.”

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Original Article:

Representatives of EXO’s Chen, Baekhyun, and Xiumin (EXO-CBX) will be holding a press conference regarding SM Entertainment.

On June 10, EXO’s Chen, Baekhyun, and Xiumin announced that their agency INB100 will be holding a press conference later today at 4 p.m. KST to address alleged unfair treatment from SM Entertainment. p_Arc Group chairwoman Cha Ga Won, INB100 CEO Kim Dong Joon, and attorney Lee Jae Hak will be present at the press conference.

A representative of INB100 stated, “Last year in June, EXO-CBX and SM Entertainment released a joint statement announcing that they amicably resolved the legal dispute regarding the termination of exclusive contracts and filing a complaint with the Korea Fair Trade Commission (KFTC). At the time, the situation was resolved through negotiation because both sides believed that it was more important than anything else for EXO to continue their activities normally. According to the agreement at the time, INB100 was established [to manage] the artists’ individual activities as well as activities under EXO-CBX.”

INB100 continued, “SM Entertainment disregarded the negotiated terms that were the premise of the agreement and is demanding 10 percent of the revenue from the artists’ individual activities from INB100. INB100 sent a certification of contents regarding the wrongful treatment, but SM Entertainment has yet to respond for over two months.”

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