EXO-CBX’s agency, INB100, has recently accused SM Entertainment of engaging in unfair practices regarding the management of the group’s activities. On the morning of the 10th, INB100 revealed that in June of last year, EXO-CBX had amicably resolved several legal issues, including the termination of exclusive contracts and a complaint filed with the Fair Trade Commission. This resolution was achieved through a joint statement with SM Entertainment. Both parties had agreed that it was crucial for EXO to continue their activities without disruption. As per the agreement, INB100 was to manage the individual activities of the artists as well as those of EXO-CBX.
However, INB100 has now claimed that SM Entertainment has violated the terms of this agreement. According to INB100, SM Entertainment is demanding that INB100 hand over 10% of the revenue generated from the artists’ individual activities. INB100 has labeled this demand as unfair and has sent a formal objection to SM Entertainment. Despite this, SM Entertainment has not responded to the objection for over two months.
In response to these developments, INB100 has decided to hold a press conference to expose what they describe as the unfair practices of SM Entertainment. The press conference will be attended by Chairman Cha Gawon, INB100 CEO Kim Dongjun, and lawyer Lee Jaehak. This move by INB100 aims to bring to light the alleged breaches of the agreement by SM Entertainment and to seek a resolution to the ongoing dispute.
The situation has garnered significant attention, as it involves one of the most popular K-pop groups, EXO-CBX. Fans and industry insiders are closely watching the developments, as the outcome could have broader implications for the management and contractual agreements within the K-pop industry. The dispute highlights the ongoing challenges and complexities in the relationships between artists, their agencies, and management companies.
INB100’s decision to go public with their grievances indicates the severity of the situation and their determination to hold SM Entertainment accountable. The agency’s move to involve legal representation and hold a press conference underscores their commitment to seeking a fair resolution. The outcome of this dispute could set a precedent for how similar issues are handled in the future, potentially leading to changes in industry practices and contractual agreements.
As the situation unfolds, it remains to be seen how SM Entertainment will respond to the allegations and whether a resolution can be reached. The dispute has already sparked discussions within the industry about the fairness and transparency of management practices and the need for clearer guidelines and regulations to protect the interests of artists.
The press conference by INB100 is expected to provide more details about the alleged unfair practices and the steps the agency plans to take to address the issue. Fans of EXO-CBX and industry observers will be keenly watching for any updates and developments in this ongoing dispute. The resolution of this issue will not only impact the future activities of EXO-CBX but could also influence the broader landscape of the K-pop industry.
