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EXO-CBX accuses SM Entertainment of missing payments

At a press conference, representatives of EXO-CBX, consisting of Chen, Baekhyun and Xiumin, presented new accusations against SM Entertainment

One year after the start of the legal dispute between Chen, Baekhyun It is Xiumin, members of EXO and members of the sub-unit EXO-CBX, against SM Entertainment, the case received new updates. This Monday, the 10th, the legal representatives of the three idols held an emergency press conference to accuse the company of non-payment. The information is from Soompi.

At the press conference, which was attended by Kim Dong JoonCEO of INB100, the company responsible for managing the solo careers of Chen, Baekhyun It is Xiuminfrom the president of the p_Arc Group, Cha Ga Wonand the lawyer Lee Jae Hakthe representatives stated that SM did not fulfill the 5.5 percent commission rate agreement for albums and songs.

“SM Entertainment is not complying with the 5.5 percent commission rate for albums and songs guaranteed to INB100 as part of the condition of the agreement,” said lawyer Lee Jae Hak. “They are engaging in unfair practices by demanding 10% of artists’ revenue generated by individual activities such as individual album releases, concerts and advertisements.”

Jae Hak He also completed his speech by stating that a content certification was sent to SM Entertainment in April informing them of the violation of the agreement, however, to date, they have not yet received a response.

“The agreement no longer makes sense, so we will cancel the agreement made on June 18 [sobre as causas da] fraud or we will terminate for breach of obligations. We will also consider filing a criminal complaint and a complaint with the Korea Fair Trade Commission regarding the agreement signing process.”

Source: Recreio

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