SM Suspects Third Party Is Behind Baekhyun, Xiumin, And Chen’s Contract Termination Notice + BPM Entertainment Responds

Jun 1, 2023

SM Suspects Third Party Is Behind Baekhyun, Xiumin, And Chen’s Contract Termination Notice + BPM Entertainment Responds

Following EXO’s Baekhyun, Xiumin, and Chen’s notice to SM Entertainment in regards to terminating their exclusive contracts, SM Entertainment released an additional statement on June 1 regarding the issue, suspecting an external influence being behind this situation.

Below is SM Entertainment’s full statement:

"Hello, this is SM Entertainment.

Through the SM 3.0 strategy that we announced at the beginning of this year, the agency presented our new vision as a leading global entertainment company. Thus, while continuing to improve corporate governance accordingly, we are fiercely working hard to meet the high expectations of fans.

However, we have detected an external influence taking advantage of the time when we were focusing our abilities to prepare to take a new leap by approaching our artists with false information and delivering wrong legal assessment, making unconventional proposals such as persuading them that it is okay to ignore their exclusive contracts with us and to sign contracts with them. Even though they don’t sincerely care about the artists at all, the external influence is committing illegal acts by using false rumors, slander, and flattery to lure artists into making misjudgments, violating their exclusive contracts, and signing additional contracts [that would breach the exclusivity of the pre-existing contract].

We confirmed that the external force did not only stop at luring our agency’s artists into violating their valid exclusive contracts with us, but they also lured other artists from our company to violate their exclusive contracts or to sign additional contracts through the relevant artists.

These attempts by the external force are clearly illegal, encouraging conflicts between our company and artists as well as between the artists while also having a hidden agenda of wanting to collapse the existing team. This attempt cannot be tolerated as it fundamentally destroys the trust of fans who send infinite love and support, and it is an illegal act that cannot be excused for the sound future of the entire K-pop industry.

Therefore, we will not stand idle to the movements of those who only pursue monetary greed and do not pay any attention in the slightest to essential details such as the future of our artists or their legitimate legal rights, and we will take all legal action possible. This is because if we do not do that, the reputation and image of our artists could be severely damaged by the actions of those who are only taking care of their own interests as well as have a negative impact on the future of promising artists.

The agency will respond strongly to illegal actions by the impure external force, and we will work hard to show how we meet the high expectations of fans who sincerely love the artists.

Thank you."

Ilgan Sports further reported the same day that SM recently sent a certification of contents to Big Planet Made Entertainment (BPM Entertainment), which MC Mong reportedly is an executive director for. According to the report, SM claimed in the certification of contents that BPM Entertainment approached Chen, Baekhyun, and Xiumin to sign contracts with them. As the EXO members signed exclusive contracts with SM Entertainment, signing additional contracts with BPM would breach the exclusivity of their contracts with SM.

BPM Entertainment responded to the report with the following statement:

"Hello, this is Big Planet Made Entertainment. We would like to inform you that the information reported regarding our agency today (June 1) is not true.

First, Big Planet Made Entertainment has never met with the artists mentioned in the report and has never discussed or shared opinions regarding any exclusive contracts.

Second, MC Mong (Shin Dong Hyun) is currently not an executive director of our agency, and he is not given any position or title [in the company] nor is he involved in management at all.

Third, we confirm that our agency recently received a certification of contents from SM in the name of their CEO, and we express regret at their intention to link their own internal contract situation with our unrelated agency. If they continue to insist as such, we will take strong legal action."

 

Source: Soompi

Tags: #SM; #Baekhyun; #Xiumin; #Chen;
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