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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