SM Entertainment Clarifies EXO Album Plans; No Changes Discussed

On the 11th, SM informed SPOTV News that the release of EXO’s album was indeed planned and that there were no current discussions about altering this plan.

On the 10th, INB100, the agency of CBX, clarified that the press conference held on the same day aimed to highlight the unfairness of SM demanding 10% of the revenue from the artists’ solo activities, as they were the first to violate the contract. The statement emphasized that this issue is separate from the continuation of EXO’s group activities and reassured that CBX will continue to actively participate in EXO’s group activities with SM.

On the 10th, INB100 organized an emergency press conference at the Shilla Hotel in Jung-gu, Seoul, where they announced their intention to reveal SM’s deceptive agreement and accused SM of not following through on their promises.

INB100 claimed that despite an agreement to guarantee a 5.5% distribution fee rate for albums and digital music, SM did not fulfill this agreement. Furthermore, INB100 stated that SM is unfairly requesting 10% of the revenue from the artists’ individual activities, such as album releases or concerts, to be paid to them.

Following the press conference, SM released a statement stating, “The root cause of all issues is the unjust actions of Chairman Cha Gawon of MC Mong. We can no longer tolerate CBX’s continuous allegations of invalidity regarding the renegotiation and agreement that took place after 18 months of negotiations. We will handle this matter calmly, following legal procedures and principles, and hold CBX accountable through the court.”