EXO: Baekhyun, Xiumin and Chen Terminate Contracts With SM Entertainment; Here's Why

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posted on 1 year ago — updated on 1 second ago

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EXO members Baekhyun, Xiumin and Chen have notified SM Entertainment, the group's agency, of termination of their contracts.

It a shocking turn of events, EXO members Baekhyun, Xiumin, and Chen have informed SM Entertainment of the termination of their exclusive contracts with the agency. It is reported that Law Firm LIN has sent the notification to the agency via the trio on June 1. The news has come has a surprise to fans. However, many EXOLs extended their support.

As reported by AllKPop, the EXO members reached out to SM Entertainment, requesting for clear and transparent records of the company’s earnings calculations — the artists’ fundamental right — after they felt there might be problematic aspects of the company’s earnings. However, the agency allegedly refused to reveal the information.

To top it off, SM forced artists to sign contracts with them that would force the artists to remain in the agency for at least 17 to 18 years. Noting these issues, the trio issued their notice to terminate their contracts. According to a report by Soompi, Baekhyun, Xiumin, and Chen’s legal representative said in a statement, “Since March 21 until recently, the three members sent certification of contents a total of seven times, and through this, they requested a copy of a transparent settlement report and basis for settlement.”

“Not providing settlement data is a reason for terminating the exclusive contract. As of today, SM Entertainment has been notified of the termination of the existing exclusive contract. The artists emphasized that they plan to take all civil and criminal legal action against SM Entertainment, including a lawsuit for payment of settlement money to check the exact details of the settlement,” the represented added, as per a JTBC News report.

“I am sorry for causing great concern to the fans with this incident, and I am sorry. Due to the difference in position with SM Entertainment, we are inevitably pursuing legal action, but we will find a wise way to resolve the dispute,” he added.

Baekhyun, Xiumin and Chen have been a part of the seven-member K-pop group, EXO, since 2012. The trio is yet to issue a first-person statement about the developments.