Members of the K-pop band EXO – Chen, Baekhyun and Xiumin – want to terminate their contracts. SM Entertainment accuses the three of poaching. Here’s the latest.
Digital Music News reported the first testimony from an attorney representing these three members. The singers claim that SM Entertainment has not been transparent about their earnings, leading them to pursue legal action. They also claim that SM Entertainment kept them in so-called “slave contracts” that lasted much longer than usual. Meanwhile, SM Entertainment claims the artists are being poached by another company.
Now, the EXO trio have released a statement on these allegations, stating that no “external forces” influenced their decision-making.
“It’s even more chilling when you consider that the statements reflect SM Entertainment’s true attitude towards its artists,” the statement said reads. “Foreign powers? Our clients are self-governing people who are able to think, act and make decisions independently. The decision to request records of their earnings and balance sheets was made after much private deliberation and deliberation – and not by any outside force.”
SM Entertainment said it allowed the group access to its financial records but did not provide copies of those documents for fear of disclosure of records. EXO’s lawyers claim otherwise. “The law firm has repeatedly requested access to copies of our clients’ financial earnings and balances on behalf of the artists; However, SM Entertainment consistently denied the request, giving the artists legal grounds to terminate their contracts.”
SM Entertainment announced today that it will be making copies of earnings and payments available to EXO members. However, you must promise not to disclose the information to any third party.
“We are concerned that in the current situation, where artists have the opportunity to personally review and comment on payment records, but continue to request copies of the data and announce the termination of contracts, there may be other ulterior motives behind their actions, particularly as There is a suspicion of third-party involvement,” the SM Entertainment statement said reads.
“As a result of these concerns, we have repeatedly sought confirmation from the agent that the three artists have not entered into double contracts with third parties that would breach the new contract and that the agent was only representing the three artists. But the representative was silent.”