EXO-CBX (엑소-첸백시), comprised of members Chen (첸), Baekhyun (백현), and Xiumin (시우민), EXO’s groundbreaking sub-unit, has announced that their agency, INB100, will be holding an emergency press conference today (Monday, 10th June). The conference is set to tackle what they allege is unfair treatment from SM Entertainment. This dispute, ongoing for over a year, stemmed from the termination of their exclusive contracts with SM Entertainment and subsequent legal action due to overdue payments and what they deemed as unreasonable deals.
“In June of last year, EXO-CBX successfully completed legal action, including terminating the exclusive contract and filing a complaint with the Fair Trade Commission, through a joint statement with SM Entertainment,” INB100 elaborated. “At that time, both parties reached a resolution through negotiations, prioritising EXO’s regular activities above all else. As per the agreement then, the artists’ individual names and activities as EXO-CBX were established by INB100.”
According to the official statement, it was said that “SM Entertainment is ignoring the contents of the negotiation that became the premise of the agreement and is demanding INB100, EXO-CBX’s agency, to give up ‘10% of the sales of the artist’s individual activities’.” Although the group’s new agency has sent proof of this, SM Entertainment has not responded for over two months. “We plan to report SM Entertainment’s unfair treatment,” said INB100.
The press conference, slated for this afternoon, aims to shed further light on what INB100 perceives as unfair treatment by SM Entertainment. Amidst all the drama, EXO-Ls are still backing the members. Many reckon the company’s just trying to stir up trouble and paint the idols as the bad guys. So, as things keep rolling, everyone’s eager to see how this showdown between the agency and the entertainment giant plays out.
Stay tuned for more updates on the press conference.
Melissa Royan contributed to this article.
