EXO- CBX, CHEN, Baekhyun, and Xiumin have reassured fans of their dedication to continuing group activities despite an ongoing contract dispute with their agency, SM Entertainment.
In a press conference held on June 10th, INB100, the agency representing CBX, addressed issues regarding unfair contract terms with SM Entertainment. According to INB100, SM Entertainment has been deducting 10% of sales from individual artists’ activities, a violation of their existing agreement. This dispute, however, does not affect EXO’s group activities.
“We want to make it clear that this conflict concerns only the terms of individual contracts. CBX is committed to continuing EXO’s activities as a whole,” stated INB100 on June 11th.
Earlier reports suggested that EXO’s upcoming winter album release might be canceled due to the conflict. However, CBX and their representatives have denied these claims, reaffirming their commitment to EXO and its fans.
Lee Jae-hak, the lawyer for INB100, explained at the press conference held at the Shilla Hotel in Seoul that SM Entertainment has failed to honor the agreed 5.5% fee rate for records and music, instead demanding a 10% cut from personal endeavors such as solo albums, concerts, and advertisements. “This is a breach of the original agreement,” Lee stated.
Despite the legal battle, CBX has promised fans that EXO’s group activities will proceed as planned. The group remains united in their commitment to their music and their supporters.
Below is the full text of INB100’s official statement:
“The press conference on the 10th was designed to highlight the unfair practice of SM deducting 10% of sales from individual artist activities, which violates our agreement. This dispute does not affect EXO’s group activities. CBX reassures fans that EXO will continue to perform and release music as a whole group.”
Article source, images courtesy of INB100
