QuoteDisplay MoreIt has been confirmed that SM Entertainment has recently seized the assets of group EXO members Chen, Baekhyun, and Xiumin (Chen Baekxi). The intention is to preserve bonds equivalent to 10% of personal activity sales.
According to a report by Biz Korea, SM Entertainment seized the assets of EXO members Chen, Baekhyun, and Xiumin (Chen Baekxi) over two days on the 9th and 10th. The assets seized include Mr. Chen's housing rental bonds, Baek Hyun's apartment in Acheon-dong, Gyeonggi Guri-si, and Mr. Xu Min's apartment in Hannam-dong, Yongsan-gu, Seoul. Baek Hyun's Acheon-dong apartment is 142 square meters in size, and in October 2023, Xiumin's Hannam-dong apartment is 166 square meters, and the ownership transfer registration was completed just on the 9th of last month.
In this provisional seizure, SM Entertainment claimed a total of 2.6 billion won (300 million, 1.6 billion, and 700 million won, respectively) against Chen Baeksi.
According to the agreement reached by the two parties in June 2023, the intention is to preserve bonds equivalent to 10% of personal activity sales incurred. Provisional seizure refers to a measure that binds the property of the other party to whom the money is received so that it cannot be disposed of. It is usually used when there is a risk that the debtor will steal the property.
