After announcing the termination of their contracts, the three members of EXO decided to remain with the agency.
Earlier this month, Chen, Xiumin It is Baekhynfrom EXO, sent a notification to SM Entertainment announcing the end of their exclusive contracts, accusing the company of late payments and unreasonable agreements made by the agency.
However, this Monday, the 19th, the three members alongside representatives from SM issued a new statement stating that the differences between the two sides have been resolved, and the idols have agreed to continue with their current contracts as EXO.
Check out the full statement:
“Hello, this is SM Entertainment.
Below is the joint statement between the agency and agency artists Byun Baek Hyun, Kim Jong Dae, and Kim Min Seok (hereinafter referred to as the “three artists”).
Recently, the agency and the agency’s artists have continued to raise questions publicly about our different positions. Regarding this, the agency and the three artists sincerely apologize for causing concern to the many people who support EXO.
Afterwards, the agency and three artists had plenty of time to openly discuss all issues. With this, we have resolved differences caused by misunderstandings and are pleased to report that we have reached a mutually friendly agreement. Our organized statement is as follows.
First, the agency and the three artists will recognize and maintain the contractual relationship while carrying out EXO’s scheduled activities more actively and continuously through the process of discussing and correcting certain parts.
The agency listened carefully and understood all three artists’ thoughts, and the agency also conveyed our position on the matter in detail. The three artists also opened their hearts and understood our stance on artist contracts. Therefore, the agency and the three artists will carry out a mutually equal discussion process, as well as corrections, and we promise to further strengthen our future relationship. In addition, the agency will support the three artists so that each can carry out promotional activities in new ways, fully showing each artist’s individuality.
Second, we would like to inform you that there has been a misunderstanding about the intervention of a third party.
The agency initially received a complaint that a third party was approaching the three artists with unfair intent, and we assert that this was the main cause of the dispute. However, through this discussion, we discovered that there was a misunderstanding about third party involvement. We would like to take this opportunity to apologize to those involved for causing concern with our announcement.
The agency and the three artists would like to express our apologies to the fans as well as the members of EXO, as well as the three artists and those who trusted and waited for EXO, and we will do our best to repay the support of the many people who have supported us.
Finally, through this incident, we were able to think about the artists’ personal concerns as well as the direction of our agency’s growth after the release of SM 3.0. Thanks to the fans’ support, we would like to plan the future of SM 3.0 more developed and mature. Under the new changed and developed values of SM 3.0, we will further strengthen and solidify mutual cooperation and respect with our artists.
Formed in 2012 by SM Entertainment, EXO currently consists of nine members: suho, Xiumin, lay, Baekhyun, Chen, chanyeol, OF, kai It is Sehun. Their most recent release took place at the beginning of last week with “Let Me In”, a pre-release track that anticipates the arrival of the group’s new comeback with the seventh full-album “EXIST”. Watch the clip!