EXO’s Chen, Baekhyun and Xiumin issue comprehensive statement refuting claims made by SM Entertainment

Recently, EXO’s Chen, Baekhyun and Xiumin made the decision to sue SM Entertainment and get their exclusive contracts terminated and soon, began a back and forth between them and SM Entertainment as the agency claimed that they were being poached by other companies and their reason for contract termination ‘does not make sense’. On June 1, SM released a detailed statement regarding their reason for refuting the grounds of contract termination and instead dove into their process of contract renewal process and claimed that ‘outside forces’ are influencing their decision. 

EXO’s CBX’s statement: 

Seeing the official statement released by SM Entertainment, their legal representative also unveiled a comprehensive statement to rebut the claims made by the company. They began by saying that after going over the official proclamations delivered by SM Entertainment endeavoring to fault 'outside powers', their clients are right now speechless. It is considerably more horrifying while considering the way that the assertions reflect SM's actual mentality toward its artists. Forces from outside? They said that their clients are self-governing individuals who are fully equipped to think, act, and make decisions on their own. The decision to request records of their earnings and balances was made privately after much thought and consideration, and it was not prompted by anyone else. In addition, neither Chen, Baekhyun, nor Xiumin attempted or completed any other contracts with any other parties.

The financial records: 

The law firm further went into the claims saying that SM Entertainment has maintained the position that the artists can 'glance' the records for themselves, but they cannot be given copies for any reason, out of the concern that records of earnings and balances may be leaked to outsiders or other companies. However, the artists also have the right to access these financial records and consult professionals from the outside, such as this legal firm. Artists are not restricted in any way by law in their access to financial records. In the case of SM Entertainment's contract, there is merely a clause that states that they can formally object to any part of the documents within 30 days of being granted access after reading any documents. They also said that they have consistently requested for their financial records but SM Entertainment has refused the request at every point, leaving EXO’s Chen, Baekhyun and Xiumin no choice but to take legal action and request contract termination. 

Ending statement: 

In the end, they said that even if the problem causes the artists to leave SM Entertainment, they are looking for ways to continue working as EXO with the other members to promote. During the contract renewal negotiations, the artists even suggested to themselves the possibility of continuing their EXO promotions if they decided not to renew their contracts with SM Entertainment. Notwithstanding the way in which this lawful question is settled, the artists vow to proceed with their group activities as EXO steadily.

ALSO READ: EXO’s comeback MV filming postponed due to Chen, Baekhyun and Xiumin suing SM Entertainment? Agency responds

Stay updated with the latest Hallyu news on: Instagram, YouTube, Twitter, Facebook and Snapchat