The three members of the K-pop group EXO want to break their exclusivity contracts with SM Entertainment.
According to recent reports, Baekhyun, Xiumin, and Chen's attorneys at the Lin law firm have notified SM entertainment about the termination of their contracts.
The three EXO members have asked for records many times which shows all three artists' payments and earnings from March through May.
Baekhyun, Xiumin, and Chen reportedly asked for "clear and transparent records" of the company's earnings, according to a report in All Kpop. But SM Entertainment allegedly declined to do so.
The issues with contracts:
According to the singers' lawyers, SM Entertainment pushed the singers to sign 12- to 13-year exclusivity contracts.
Additionally, they urged that their contracts be renewed prematurely and extended to at least 17 to 18 years. "Slave contracts" was the term used by the artists.
Apology for fans:
The artists also sent a message to their fans. “There is no way to properly convey our apologies for causing this issue to worry our fans. We will try our best to find a sensible approach to handle this conflict so that we do not unnecessarily worry our fans, even though legal action is unavoidable due to a disagreement in our position with SM.”
They said, "As we try to speak up with our modest voices regarding the injustice we couldn't talk of till now, we are genuinely quite afraid and apprehensive of the situation right now. We are hoping that you will be interested in what we have to say as well as our courage. Once again, we want to express our heartfelt thanks to all of our longtime fans.
SM Entertainment’s Reply:
Meanwhile, SM Entertainment implied that "external forces" had approached their artists.
In a statement, they stated, "We have confirmed that other forces are approaching our artists. The external forces don't actually care about the artist at all; instead, they are engaging in illegal activity that lures our artists to make wrong choices and violate contract clauses. We will not remain silent while people who chase their desire for money move around, and we'll use every legal measure from our side.”