June 10 – An article from reporter Lee Min Ji Reports, a shocking development, EXO CBX, comprising members Baekhyun, Xiumin, and Chen, has publicly accused their former agency, SM Entertainment, of unfair treatment.
INB100, the current agency representing EXO-CBX, announced that it will hold an emergency press conference later this afternoon to address these serious allegations.
According to INB100, a joint statement issued last June revealed that EXO-CBX had successfully terminated their exclusive contracts with SM Entertainment and resolved their complaints through negotiations facilitated by the Fair Trade Commission (FTC). This resolution was aimed at ensuring the smooth continuation of EXO’s activities.
“In June last year, EXO-CBX and SM Entertainment reached a negotiated settlement to terminate their exclusive contracts and resolve all outstanding complaints. This agreement was intended to prioritize the normal functioning of EXO, allowing EXO-CBX to establish their individual careers under INB100,” an INB100 representative stated.
However, the situation has taken a turn for the worse. INB100 alleges that SM Entertainment is now demanding 10% of the revenue generated from EXO-CBX’s individual activities, a move that violates the terms of their previous agreement.
“Despite sending multiple notices highlighting this unfair demand, SM Entertainment has remained unresponsive for over two months,” INB100 disclosed.
In light of this ongoing dispute, INB100 has decided to hold a press conference this afternoon to announce their intention to file a formal complaint against SM Entertainment for what they describe as “unfair treatment.”
This press conference is expected to shed more light on the details of the dispute and the steps EXO-CBX and their agency plan to take moving forward.
Stay tuned for further updates on this developing story.
Article source, images courtesy of INB100
