EXO members Chen, Baekhyun and Xiumin reach settlement with SM Entertainment after announcing termination of contracts amid unpaid dues

K-pop group EXO members Chen, Baekhyun, and Xiumin (CBX) have announced that they have come to an agreement with their agency, SM Entertainment. The agency released a joint statement confirming that they have settled their differences and that the three singers will move forward working as members of EXO. This news comes after the trio had notified the agency about the termination of their contracts.

 

EXO members Chen, Baekhyun and Xiumin reach settlement with SM Entertainment after announcing termination of contracts amid unpaid dues

 

In a joint statement in Korean, as translated by Korean outlet Soompi, SM Entertainment stated, “Below is the joint statement between the agency and the agency’s artists Byun Baek Hyun, Kim Jong Dae, and Kim Min Seo k (hereafter referred to as the “three artists”). Recently, the agency and the agency’s artists continued to publicly raise issues with our different stances. Regarding this, the agency and the three artists sincerely apologize for causing concern to the many people who support EXO. Afterward, the agency and three artists had ample time in which we candidly discussed all the issues. Through this, we resolved the differences caused by misunderstandings, and we are pleased to inform you that we have reached a mutually amicable agreement. Our organized statement is as follows.”

 

The statement continued, “First, the agency and the three artists will acknowledge and maintain the contract relationship while carrying out EXO’s scheduled activities more actively and continuously through the process of discussion and correction of certain parts. The agency listened attentively and understood all the thoughts of the three artists, and the agency also conveyed our position regarding this in detail. The three artists also opened up their hearts, and they understood our stance regarding artist contracts. Therefore, the agency and the three artists will carry out a process of mutually equal discussion as well as corrections, and we promised to strengthen our future relationship further. Furthermore, the agency will support the three artists so that each artist can carry out promotional activities in new ways while fully showcasing each artist’s individuality.”

 

They added, “Secondly, we would like to tell you that there was a misunderstanding about the intervention of a third party. The agency initially received a tip-off that a third party was approaching the three artists with unjust intention, and we stated that this was the main cause of the dispute. However, through this discussion, we learned that there was a misunderstanding about the involvement of a third party. We would like to take this opportunity to apologize to those involved for causing concern with our announcement. The agency and three artists would like to express our apologies to the fans as well as the EXO members besides the three artists and those who trusted and waited for EXO, and we will do our best to repay the support of many people who stood by us.”

 

The statement concluded, “Lastly, through this incident, we were able to think about the personal concerns of artists as well as the direction of our agency’s growth following the launch of SM 3.0. Thanks to fans’ support, we would like to plan the future of SM 3.0 that is more developed and mature. Under the changed and developed new values of SM 3.0, we will further strengthen and solidify mutual cooperation and respect with our artists.”

 

Previously, on June 1, it was reported that EXO’s Baekhyun, Xiumin, and Chen had notified SM Entertainment regarding the termination of their exclusive contracts. Following which, agency had released a statement and the lawyers of three artists’ had released a rebuttal.

 

Meanwhile, EXO is working on making a comeback soon in July 2023.

 

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