Is K-pop group EXO disbanding? Baekhyun, Xiumin, & Chen file for termination of their contracts with SM Entertainment

SM Entertainment has received an exclusive contract termination notice from EXO members Baekhyun, Xiumin, and Chen, according to a statement made by Law Firm LIN on June 1 KST.

The three EXO members allegedly requested records of all three artists' earnings and payments from March through May seven times in total, according to LIN. 

READ | Lucas leaves K-pop group NCT and WayV, to pursue solo activities: SM Entertainment

Baekhyun, Xiumin, and Chen decided to request clear and transparent records of the company's earnings calculations. The artists believed there were questionable aspects of their earnings and that it was a fundamental right they had. 

However, SM Entertainment allegedly claimed that the company was unable to provide the information to the artists.

LIN said that SM Entertainment coerced its artists into signing lengthy, exclusive contracts totalling 12–13 years and that more recently, the company insisted that the singers renew their agreements early in order to make them at least 17–18 years long.

READ | Is K-pop group BLACKPINK coming to India? Rumours say BORN PINK tour planned soon

According to the performers, SM Entertainment continues to subject its artists to unfair "slave contracts" in violation of the regulations governing exclusive contracts in the entertainment business by using its influence as a big entertainment agency and acting in this way. 

As a result, the artists have chosen to file a lawsuit challenging SM Entertainment's "slave contracts" in order to represent several other musicians represented by the agency who are also bound by similar agreements. 

Apology for fans:

The singers shared a message for their fans, "We apologize for causing great concern to fans through this issue, and there is no way to fully express our apology. Although legal action is inevitable due to a difference in our position with SM, we will do our best to find a wise way to resolve this dispute so that we do not cause fans too much concern.

“As we try to speak up with our small voices regarding the unfairness we couldn’t speak of until now, we are actually very frightened and fearful of this moment right now. We hope that you take an interest in what we are saying as well as our difficult courage. We once again sincerely thank our fans who have supported us for a long time,” they said in their statement.

SM Entertainment's reply:

The agency however, has blamed ‘external forces’ for approaching their artists and said, "We have confirmed that external forces are approaching our artists (...) the outside forces don't really think about the artist at all, they are committing illegal acts that lure our artists to make wrong decisions and violate exclusive contracts (...) We will not sit on the movements of those who pursue the greed of money, and we will take all possible legal measures."