EXO held a press conference to e.xpose all of SM's disgust, the fans were green and confused

PinkyJun 12, 2024 at 16:01

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The 3 members of the group EXO just made the whole Kpop fan community stir when they decided to hold a press conference, once clearly stating all the disgusting and terrible oppression of the "big guy" SM. People are confused and waiting for details.

On the afternoon of June 10, the press conference related to the contract issue between 3 EXO members Baekhyun, Chen and Xiumin ( EXO-CBX) with SM officially took place. According to the previous announcement of I&B100 company - currently managing EXO-CBX, the press conference will publicize some issues in the agreement between SM and 3 artists regarding the management of personal activities, accusing SM of violating the law. breach of agreement and unfair treatment.

EXO held a press conference to e.xpose all of SMs disgust, the fans were green and confused - Photo 1

I&B100 said: "In June last year, through a joint stance with SM Entertainment, EXO's Chen, Baekhyun and Xiumin (Chen-Baek-Xiu) successfully completed legal actions, including termination of exclusive contract and filed a complaint with the Fair Trade Commission.

At that time, both sides resolved the issue through negotiations, believing that EXO's group activities were the most important. According to the agreement at that time, I&B100 would be established, managing the artists' personal activities under their own name Chen-Baek-Xiu.

EXO held a press conference to e.xpose all of SMs disgust, the fans were green and confused - Photo 2

However, SM Entertainment ignored the negotiation content and asked I&B100 to provide "10% of revenue from the artist's personal activities". I&B100 submitted evidence of unfairness, but SM Entertainment did not respond for more than 2 months. Therefore, Chen-Baek-Xiu will have a press conference on the afternoon of June 10 to speak up about this issue."

EXO held a press conference to e.xpose all of SMs disgust, the fans were green and confused - Photo 3

In January 2024, Baekhyun, Chen and Xiumin renewed their group contracts with EXO. After that, Baekhyun "separated" and established his own company INB100 to develop his personal career, with Chen and Xiumin accompanying him here. After a few months of establishing a new company, Baekhyun, Chen and Xiumin are all developing their individual careers in their own direction. Baekhyun ran a solo tour throughout Asia. Chen releases new music. Xiumin received a solo show, the male idol's most recent show was in Hai Phong, Vietnam.

EXO held a press conference to e.xpose all of SMs disgust, the fans were green and confused - Photo 4

Regarding the dispute about SM demanding a 10% share of profits from EXO-CBX's personal activities, initially, this company agreed to a music and content distribution fee of 5.5%. At the time of the agreement, Lee Sung Soo - who was taking on the position of CEO - said that the annual fee of Kakao subsidiaries was 5.5%, non-subsidiaries were 15% - 20%. INB100 is not affiliated with Kakao but Lee Sung Soo promised to settle at 5.5%, the 3 EXO members trusted CEO Lee. However, SM's current stance is difficult to handle at 5.5% for companies not affiliated with SM.

EXO held a press conference to e.xpose all of SMs disgust, the fans were green and confused - Photo 5

Lawyer Lee added: "Kakao also refused INB100's request for a distribution fee (5.5%). Instead, SM requested 10% of CBX's personal revenue. If SM agrees with the artist sign an agreement and end the legal dispute while having no intention or ability to settle the 5.5% fee for the new company INB100 that SM previously proposed, this is an issue that must be handled criminally for its actions. f.raud."

In 2023, 3 EXO members publicly denounced the slave contract with SM. The lawsuit was settled, Baekhyun, Chen and Xiumin returned as a group in the 10th album EXIST. With current developments, fans think it will be difficult for EXO to reunite in the near future. SM will have to resolve outstanding legal issues with 3 members of EXO-CBX and company INB100.

EXO held a press conference to e.xpose all of SMs disgust, the fans were green and confused - Photo 6

Baekhyun's establishment of his own company I&B100 was announced by Korean media earlier this year. Baekhyun then recruited Chen and Xiumin of group EXO to join. Previously, DO was the first member of EXO to leave SM to establish his own company and develop his personal career. EXO is currently still active with 8 members Sehun, Kai, Baekhyun, Chanyeol, DO, Suho, Xiumin and Chen, although many members have left the company.

EXO held a press conference to e.xpose all of SMs disgust, the fans were green and confused - Photo 7

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