ENTERTAINMENT
SM "Cancellation of exclusive contracts with Baekhyun, Xiumin, and Chen?... External forces' slander"
On the morning of the 1st, SM said in an official statement, “We presented a new vision as a leading global entertainment company through the SM 3.0 strategy announced earlier this year, and accordingly, we are continuously improving our corporate governance while meeting the high expectations of our fans. I am working hard," he said.
"It's okay to ignore the exclusive contract with us and sign a contract with them while giving false information/wrong legal evaluation by approaching our artists while we are concentrating our efforts to prepare for a new leap forward." External forces making unreasonable proposals in this way are being confirmed."
In addition, "Those outside forces, despite not having any genuine thought for the artist, are illegally enticing our company's artists to make wrong judgments and violate exclusive contracts or sign double contracts through groundless rumors, slander, and coaxing, etc. They are committing an act," he said, raising his voice.
SM said, "The attempt by outside forces is an obvious illegal act, and there is also a hidden intention to disintegrate the existing team by instigating conflicts between the company and artists and between artists and artists." It is not only an unacceptable attempt to fundamentally destroy trust, but also an illegal act that should never be forgiven for the sound future of the entire K-pop industry."
Lastly, he said, "We will do our best to live up to the high expectations of fans who truly love our artists by strictly responding to the illegal acts of impure outside forces."
Below is the full text of SM Entertainment's position.
Hello, this is SM Entertainment.
Through the SM 3.0 strategy announced earlier this year, we presented a new vision as a global leading entertainment company, and accordingly, we are working hard to meet the high expectations of our fans while steadily improving corporate governance.
However, taking advantage of the time when we are concentrating our efforts to prepare for a new leap forward, we approach our artists and deliver false information/wrong legal assessments, saying that it is okay to ignore our exclusive contract and sign a contract with them. External forces making unreasonable proposals in this way are being confirmed. Even though the external forces do not have any true thoughts about the artist, they are committing illegal acts to induce our artists to make wrong judgments and violate exclusive contracts or sign double contracts through rumors, slander, and flattery. that is being committed.
It has been confirmed that these outside forces not only induce our company's artists to violate a valid exclusive contract with us, but also induce other artists under our company to violate their exclusive contracts or enter into double contracts through that artist.
These attempts by external forces are clearly illegal, and there is also a hidden intention to disintegrate the existing team by instigating conflicts between the company and artists and between artists. This is not only an unacceptable attempt as it fundamentally destroys the trust of the fans who send infinite love and support, but it is also an illegal act that should never be forgiven for the sound future of the entire K-pop industry.
Accordingly, we will not sit idly by the movements of those who only pursue the greed of money without paying attention to essential contents such as the artist's future or legitimate legal rights, and we will take all possible legal measures. This is because if they do not do so, the reputation and image of our artists will be severely damaged by the act of seeking only their own interests, and the future of promising artists may be adversely affected.
We will do our best to live up to the high expectations of fans who truly love our artists by strictly responding to illegal acts by impure outside forces.
thank you
Reporter Yoon Jun-ho, Ten Asia delo410@tenasia.co.kr
