SM ent will share the payment settlement data but only if CBX promise not to sue them pretty please + CBX filed a complaint with Fair Trade to investigate SM Ent

Can you believe these bitches because I can’t 😭😭😭😭

The audacity?

SM : we’ll show you how much we fucked you over but please don’t sue us

CBX : lol no *launches full scale investigation*

ExoLTaglist

EXO members already agreed they’re willing to share all settlement data with CBX

Since exo settlement data requires approval from all EXO members for release. And EXO have already agreed.

This is what they did to 19 year old Baekhyun

IMG_3176.jpgIMG_3175.jpeg

So basically SM makes you sign your 7/10 year contract even years before you actually debut 🧍‍♀️💀

Quote from nevermindmejin

Fighting CBX!!

That entire company is going down if there’s going to be a full fledged investigation.

This is not only doing to benefit CBX but every single artist at SM 😭

Full article :

3 EXO members file antitrust complaint against SM Entertainment

SEOUL, June 5 (Yonhap) -- K-pop boy group EXO's Baekhyun, Xiumin and Chen have lodged a complaint with the antitrust regulator against their agency SM Entertainment's "unfair" contract terms, their lawyer said Monday.

The members of the nine-piece group have been in a dispute with the K-pop powerhouse over their excessively long contract durations and the agency's alleged lack of transparency in financial settlements.

They notified the agency through their lawyer last week of their decision to terminate their contracts, which the company said were renewed in December, citing those reasons.

EXO's Chen (L), Baekhyun and Xiumin (R) are seen in this photo provided by SM Entertainment. (PHOTO NOT FOR SALE) (Yonhap)

On Sunday, the singers took their grievance to the Fair Trade Commission in line with their previous warning, according to their lawyer.

"On behalf of my clients, I submitted a complaint to the Fair Trade Commission against SM Entertainment yesterday," Attorney Lee Jae-hak from the Seoul-based law firm Lin said in a press release.

He added his side is seeking the authorities' intervention in "the company's act of abusing its dominant position in business."

The complaint addresses several issues, including the agency's policy of establishing the debut date as the starting point for exclusive contracts, which were signed prior to the debut itself. It also questioned the relatively long contract durations for SM artists compared to those managed by other K-pop agencies.

The complainants argue that despite receiving two corrective orders from the antitrust watchdog in 2007 and 2011, the company continued to implement the disputed terms.

Baekhyun unveiled part of his contact with the firm to back up his claim.

"If the minimum number of albums (specified in the contract) is not released, the contract period automatically extends until the requirement is met, and there is no specified upper limit on the duration," they said. "This is clearly a slave contract."

SM also released a press statement vowing to conditionally provide copies of the trio's settlement materials as they have demanded.

"After careful consideration, we decided to provide the copies on the condition that the three and their agents do not use them for any unfair purpose other than checking the content," the company said. "We also explained this situation to other EXO members and asked for their consent or understanding."

SM, however, refused to accept the trio's demands for the termination of their contacts.

"We want to make it clear that a contract should not be terminated only with a unilateral notification," it said.

The company added it will continue discussing the matter with the three artists to prevent any disruption to the band's future activities.

sshim@yna.co.kr

(END)

At this point I personally feel CBX don’t want settle and want to leave SM ent.

That hurts me. But I want CBX to do what’s best for them.

Baekhyun, Xiumin, and Chen’s legal representative and SM Entertainment have shared updates on their legal battle.

CBX SIDE :

On June 5, EXO’s Baekhyun, Xiumin, and Chen’s legal representative of the law firm LIN announced that they filed a complaint to the Fair Trade Commission on June 4 against SM Entertainment for “abuse of superior bargaining position.”

The main points of the complaint are as follows:

1. Despite the Fair Trade Commission’s resolution of banning SM’s [unfair contracts] twice in 2007 and 2011, SM did not rectify [the contracts].

2. Calculating the exclusive contract period from the “entertainment industry debut date” (instead of from the date the exclusive contract was signed) leads to an excessively long contract period, the period which is determined by the agency’s discretion, and has already been confirmed to be unjust, but SM is still not following the Fair Trade Commission’s corrective measures.

3. Through the Fair Trade Commission’s 2007 resolution, SM already received the judgment that the contract period of “5 years from the debut date (instead of the contract signing date)” is excessively long-term, but SM actually signed even more unjust contracts by deciding periods of of seven years in the exclusive contract and three years in the annex agreement.

4. SM is violating the Fair Trade Commission’s correction order by continuing to use the expedient of an indiscriminately extended contract period for reasons such as overseas activities that are not even confirmed at the time of the contract signing.

5. Subsequent exclusive contracts that are automatically extended until the album release numbers are fulfilled are extremely unfair as a minimum time period has not been set.

6. We filed a complaint with the Fair Trade Commission with the hope that our small courage will be of help for the establishment of a fair popular culture [industry] and for the sake of junior artists.

SM SIDE

SM Entertainment also released a new statement sharing their decision on the matter.

The statement reads as follows:

Hello, this is SM Entertainment.

Regarding the recent request to provide copies of settlement reports from Byun Baek Hyun, Kim Jong Dae, and Kim Min Seok (hereafter referred to as the “three artists”), we would like to inform you of the decision we made after careful consideration.

1. Settlement reports are confidential information that cannot be disclosed to third parties.

– In the case of a group, special attention is required as they contain information about other members as well.

Settlement reports may include various information such as each artist’s specific activity details, settlement rate and method, down payment, etc. This is confidential information of our agency that should not be exposed to third parties such as competitors. In addition, in the case of a group composed of several members, [provision of settlement reports] is only possible when there is trust in non-disclosure as information of other members may be exposed.

In the first place, our agency has been steadily providing our artists with opportunities to view settlement details. In fact, there have been artists who have questions or opinions about their settlement details or have asked for additional explanations, and we have fully explained each time.

2. Claims of the three artists’ legal representative.

– They remain silent on our requests for a confidentiality agreement such as whether there is no involvement of any third party and only repeat their request for copies [of settlement reports].

– They made it official that there is no third party involvement only to the media and not to us.

Under the circumstances where third party involvement is being reported [to us] through various channels, our company is concerned that there is another negative intention of the three artists’ legal representative and their requests to be provided copies while mentioning the termination of contracts although they have the opportunity to visit us at any time to review the settlement reports and present their opinions.

Due to these concerns, when we received the request to provide copies from the three artists, we repeatedly asked [the representative of the three artists] for confirmation on aspects such as “whether the three artists have signed a dual contract with a third party that may breach our exclusive contract” and “whether they represent the three artists only.” It is also true that the representative of the three artists has consistently remained silent to our questions.

Recently, the representative of the three artists has made it clear to the press, and not to our agency, that there is no third party involvement in the actions of the three artists or that the request to provide copies of settlement reports is only a legitimate right of the three artists. Internally, many are voicing concerns about whether the representative of the three artists can be trusted and whether there is no third party involvement despite numerous [disproving] tip-offs and circumstances.

3. The agency’s decision for EXO.

– We have decided to provide copies of the settlement reports with the consent and understanding of EXO members on the premise that the three artists and legal representative do not use them for unjust purposes.

– We will do our best to not interfere with EXO’s activities.

After deliberation, on the premise that we receive confirmation that the three artists and their legal representative will not use [the reports] for any other unjust purposes than to check the settlement details, the agency has decided to provide copies of the settlement reports to the three artists. Furthermore, we have explained this situation to the EXO members besides the three artists, and we asked for their consent and understanding regarding the provision of copies of settlement reports.

Through these measures, the agency hopes that we can convey our sincere feelings of loving and cherishing all the EXO members as well as the fans who treasure EXO.

Regarding the question raised by the three artists, various reports are rising regarding the agency, but we are not refuting them in detail one by one. However, we want to make clear that contracts are not terminated through unilateral notification with insufficient evidence. In addition, apart from holding those who are giving wrong advice to the third party or the three artists legally and morally accountable, we will continue to do our best to come to a mutual agreement with the three artists we cherish. We will do our best not to impede on EXO’s activities which fans are anticipating.

Thank you.

It was first announced on June 1 that EXO’s Baekhyun, Xiumin, and Chen notified SM Entertainment regarding the termination of their exclusive contracts, which SM responded to with a detailed statement. Baekhyun, Xiumin, and Chen’s legal representative released an additional statement on June 2 with a rebuttal of SM’s claims.

Quote from Kouss

i think there worried about it leaking to the press or rival company, and are using the privacy of other members as an argument.

Their statement says they offered to let them see it (with their lawyers), but are getting tips/rumors that these members might be signed or involved with another company and that’s the reason they are asking.

Kinda sounds like SM allows them to come and see the documents, but they can’t leave the building with them??? CBX said no, Finally SM agreed to let them have copies, but maybe signs an agreement with damages if they leak etc.

But there must be a lot of drama going on because SM basically accuses CBX of cheating on them twice in their response and already breaking contract.

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It’s a cop out. Lol. They’re using an excuse and trying to shape media narrative like CBX is colluding with external third parties.

In case you didn’t follow along the initial reports they’ve been trying to do this since day 1.

This shit was so funny.

SM doesn’t want to release any data. They’re trying to frame it like as if CBX isn’t agreeing to their unspecified non disclosure agreement hence trying to paint the picture that they’re some colluding traitors

Does SM think such dated media play will work in todays day and age

Knetz Reaction :

BTW the investigation if it goes through will be for ALL of SM

Baekhyun personally disclosed his own contract willingly to the fare trade commission so that the fare trade commission can be prompted to investigate ALL of SM ENT.

Quote from Blue2012

You sure have to be reeeaaaalllly smart to go into debt by investing in a company that has become a PR nightmare on top of the fact that the stock price has fallen 37% since you bought them.

Real geniuses there at Kakao and Hybe. But at least Kakao didn't go into massive debt.

Don’t worry about it if YG can recover from burning sun any one can recover from anything.

Quote from AyanEva

Interesting (and obvious) how SM is trying to frame this as being all about the settlement documents and neatly ignoring the worst parts about the slave contracts.

Exactly.

Quote from desdesdes

To add more comedy in this thread, here is the banter between the court vs SM back then on jyj's case:

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A whole clownery 🤡

Anticipating the sequel to this

Quote from K-PL

Seems like they want out, and if they can leave so can everyone else on a Slave contract.

I feel that too.

So like what happens if they “settle” how can they just go back to normal after literally going to such lengths where SM as a brand is literally in tatters. Their stock price keeps falling and it’s international news.

The only way this ends is with CBX leaving SM ENT and no other outcome. I’m trying to deal with it. But it’s hard 🧍‍♀️

Maybe all isn’t lost??

This is just pop base maybe if there’s another account it’ll make sense lol.

Quote from allfandomssuck

it's really brave of them to do this. how can this be resolved without upper management being completely replaced? with lsm out they're still doing the same shady practices.

You’re absolutely right.