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Between June 5th and June 6th KST, EXO member wise man, Xiuminand List and SM Entertainment After a series of fresh press releases from both sides, the new look for the two sides took on.
First of all, on June 5, Korean time, Baekhyun, Xiumin, and Chen (hereinafter referred to as EXO-CBX) have File a complaint with the Korea Fair Trade Commission To hold SM Entertainment accountable for “unfair abuse of bargaining power”.
In addition, on June 5, Korean time, SM Entertainment issued a press statement A statement that it will satisfy EXO-CBX by providing copies of requested payment records, provided that EXO-CBX signs a non-disclosure agreement.
Then, early on June 6, Korean time, EXO-CBX released an official press statement in response to SM Entertainment’s latest stance.
In the process, more specific details surrounding the legal dispute between the two parties, as well as issues raised by both parties, were publicly disclosed. This caused many Korean netizens concerned about the issue to take different stances, with some expressing their support for EXO-CBX and others for SM Entertainment.
First of all, according to these aspects of the latest statement by the agency, some netizens who decided to support SM Entertainment based on their understanding of the situation:
1. According to SM Entertainment, artists can invite legal representatives/accounting firm representatives to visit the company as needed to check payment records and balances.
2. However, EXO-CBX did not attempt to follow SM’s advice to go through the records with their legal/accounting representatives before requesting full copies of all receipts and payments, and continued to request only copies.
3. For the distribution of copies of artists [EXO’s] Income and payments, the company must obtain permission from all other members to publish such documents, as the complete document will contain confidential information involving other members. This is also one of the reasons why SM Entertainment rejected EXO-CBX’s requests for copies many times.
4. However, due to constant requests from EXO-CBX, SM Entertainment decided to obtain permission from other EXO members in order to provide EXO-CBX with the requested copies, even though the confidential financial records of other EXO members may be threatened.
5. SM Entertainment stated that during the process of negotiating exclusive contract renewal terms with all members of EXO, there was no coercion. This is evidenced by the fact that one of EXO’s members has yet to renew his contract and is currently in negotiations.
On the other hand, those netizens who support EXO-CBX understand the situation based on CBX’s statement in these aspects:
1. SM Entertainment claimed that the three members of EXO-CBX “voluntarily” renewed the exclusive contract after fair negotiations, but according to CBX, there was significant coercion and “gaslighting” during the negotiation process.
2. Regardless of SM Entertainment’s coercion and lure, CBX tried to negotiate the contract renewal details eight times. The response they finally got was that SM Entertainment could not accept any proposal from CBX.
3. CBX members are informed “If you don’t renew the contract, other members and even the whole team will be negatively affected” Especially Baekhyun was told, “Baekhyun, if you renew, we can offer other members this much renewal fee”. At the time, Baekhyun was still fulfilling his military obligations, but felt he had to renew his contract early [with approximately a year still remaining before its expiration] To protect the team.
4. After the dispute between Lee Soo Man and LIKE Holdings, CBX has reason to believe that there are unexplained and unreasonable expenses such as “production fee” or “royalty fee” in its income and payment records for the past 12 years.
Meanwhile, members of EXO recently bid start On May 11 KST briefly bid farewell to his mandatory enlistment service.
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