On June 10, INB100, Chen’s current agency with EXO, announced an urgent press conference to be held in the afternoon of the same day, featuring Baekhyun and Xiumin.
Specifically, INB100 issued an official statement as follows:
In June of last year, EXO’s CBX unit (consisting of Chen, Baekhyun, and Xiumin) successfully completed legal actions by issuing a joint statement with SM Entertainment. This included terminating their exclusive contracts and filing a complaint with the Fair Trade Commission.
During that period, the matter was resolved through negotiations between both parties, with the understanding that EXO’s group promotions were of utmost importance. As per the agreed upon terms, INB100 would be formed and the artists would carry out activities under their individual names as well as EXO’s sub-unit CBX.
Despite the content of the negotiations, SM Entertainment insisted that INB100 provide 10% of the revenue from the artists’ personal activities.
Despite INB100 submitting evidence of this unfairness, SM Entertainment has not responded for more than two months. As a result, Chen, Baekhyun, and Xiumin will be holding a press conference this afternoon to address the issue.
The source for this information is VKR, which was originally published on Naver’s entertainment website.
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