SM Entertainment to Provide Settlement Copies to Chen, Baekhyun, and Xiumin with Exo Members' Consent

SM Entertainment (hereafter referred to as SM) has announced that they will provide copies of settlement data amidst the ongoing contract dispute with EXO members Chen, Baekhyun, and Xiumin (hereafter referred to as EXO-CBX).

On the 5th, SM released an official statement stating, "Under the premise that the three artists (EXO-CBX) and their representatives will not exploit the settlement data for improper purposes, we have decided to provide them with copies of the settlement data related to the EXO members."

SM's position is based on the understanding that the three artists and their representatives will only use the settlement data for the purpose of verifying the settlement details and not for any other improper motives. Furthermore, SM has explained the situation to the other EXO members and obtained their consent regarding the provision of settlement data copies.

SM emphasized that they will do their best to ensure that EXO's activities are not disrupted and clarified that termination of the contract based solely on insufficient grounds and unilateral notifications is not the case. They expressed their commitment to continue discussions and strive for the best possible outcome with the three artists.

Earlier, on the 1st, EXO-CBX notified SM of the termination of their exclusive contract, citing issues such as unfair contract duration and opaque profit settlements.

Regarding this matter, SM countered by stating, "We have been conducting monthly settlements for the artists, and the settlement data is constantly available for review. However, the representatives are demanding copies for other purposes, using it as grounds for contract termination." also claimed that the sudden termination of EXO-CBX's exclusive contract was influenced by malicious external forces.

They alleged that external forces have approached the artists, providing them with false information and incorrect legal assessments, and proposing unreasonable suggestions that disregard their contract with SM and suggest signing contracts with them. It was revealed that SM had sent evidence of EXO-CBX's contract-related information to Big Planet Made Entertainment, which led to speculation that external forces influenced Big Planet Made Entertainment to induce the termination of EXO-CBX's exclusive contract.

In response, Big Planet Made Entertainment stated, "We have never met the artists nor discussed or expressed any opinions regarding an exclusive contract. We regret the intention to associate unrelated headquarters with the internal contract situation of another entertainment company, and if they continue to make such claims, we will respond firmly through legal means."