Allkpop reported that LIN Law Firm – the legal representative for the trio Baekhyun, Xiumin, Chen, announced that they had sent a document requesting to terminate their exclusive contract to SM Entertainment. According to the announcement, the trio had sent a total of 7 requests to provide documents detailing their income and payments from March to May.
They believe that there are inadequacies in the income issue, so they request to provide clear and transparent records on how artists' income and payments are calculated. This is the basic right of singers under their management company. However, SM Entertainment has refused them on the grounds that they cannot disclose the information.
Singer trio Baekhyun, Xiumin, Chen of EXO group
LIN claimed that SM Entertainment forced its singers to sign exclusive contracts for 12 to 13 years. They then requested early contract renewals to extend the contract period to 17 to 18 years, and if the trainee period is included, the singers would have been with the company for more than 20 years. The singers said that SM Entertainment's use of its power and position as a major entertainment company to force its singers to abide by "slave contracts" was unfair. It violated existing laws surrounding exclusive contracts in the entertainment industry.
As a result, the trio of EXO members decided to pursue legal action against SM Entertainment's "slave contracts", taking the lead and speaking out on behalf of many other artists under the company who are under similar binding contracts.
The event that shocked Korean showbiz
Information about the incident is constantly updated.
As soon as the information was released, EXO fans were shocked. SM Entertainment's stock price immediately dropped. SM Entertainment released a statement that an external force approached their artists and instigated, provided false information, and gave legal advice to entice them to make the wrong decision to breach the contract and sign a new contract with an outside party. Therefore, they will take all necessary legal action against that external force.
EXO is one of the most successful groups in the Korean music industry. The group has a large fan base and has won many awards.
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