EXO’s sub-unit CBX—Xiumin, Baekhyun, and Chen—is taking a stand against what they claim are unfair practices by SM Entertainment.
INB100, the agency representing CBX, announced an emergency press conference to be held at a hotel in Jung-gu, Seoul, on the afternoon of June 10th. INB100 Chairman Cha Ga Won, CEO Kim Dong Jun, and lawyer Lee Jae Hak will be in attendance.
INB100 stated, “Last June, CBX amicably resolved legal issues with SM Entertainment, including the termination of their exclusive contracts and a complaint to the Fair Trade Commission.” They continued. “Both sides agreed that the smooth continuation of EXO’s activities was paramount and resolved the matter through negotiation. INB100 now manages their individual and CBX activities.”
However, INB100 argues that SM Entertainment’s demands are unreasonable. “SM Entertainment is ignoring the negotiated terms of the settlement agreement and is demanding 10% of the revenue from the artists’ individual activities,’” the agency claimed.
Despite sending a certification of contents to SM, CBX alleges that the company has not responded for over two months. As a result, they have called an emergency press conference to expose these unfair practices.
Last June, CBX notified SM of their intention to terminate their exclusive contracts due to opaque accounting practices. They later agreed to maintain their contracts with SM while conducting individual activities through INB100. The recent dispute signals a potential upheaval once again.
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