EXO's Chen, Baekhyun, and Xiumin have announced an emergency press conference on Monday June 10, 2024, through their agency, INB100. The press conference aimed to reveal the injustice that SM Entertainment did to Chen, Baekhyun, and Xiumin during their legal conflict.
"In June last year, ECO CBX (Chen, Baekhyun, and Xiumin's unit) successfully completed legal action, including terminating their exclusive contract and filing a complaint with the Fair Trade Commission, through a joint statement with SM Entertainment," said INB100 as quoted by KBIZoom June 10, 2024.
They continued, "At that time, both parties resolved the issue through negotiations, believing that EXO's group activities were the most important. Based on the agreement at that time, INB100 would be established, and activities would be carried out under the names of each artist and EXO-CBX ."
Furthermore, INB100 said that SM Entertainment ignored the contents of the negotiations and demanded that INB100 provide 10% of the income from the artist's personal activities. INB100 has submitted evidence of the injustice, but SM Entertainment has not responded for more than two months.
Therefore, Chen, Baekhyun and Xiumin will hold an emergency afternoon press conference to discuss this issue. The press conference will be attended by Chairman Cha Gawon, INB100 CEO Kim Dongjun, and lawyer Lee Jaehak. Previously, the legal dispute between EXO-CBX and SM Entertainment had become a hot topic.
At that time, the three EXO members filed a lawsuit over the 'slave contract' and the pressure that SM Entertainment put on artists to extend their contracts for 17 to 18 years. Apart from that, the lawsuit also covers honorarium payments that are not transparent and cause losses to the artists.
After successfully leaving SM Entertainment, now Chen, Baekhyun, and Xiumin have founded the independent label INB100. The label will manage individual activities as well as EXO CBX, while activities with the EXO group will remain under the auspices of SM Entertainment.
The INB100 label stated that this new challenge stems from the members' efforts and sincerity to approach their fans in a more creative and sincere way. They asked for encouragement and warm support for their challenges towards change and growth and asked for continued support for EXO and the group's activities.
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