SM Files Lawsuit Against EXO CBX, Demanding Contract Compliance
The lawsuit between SM Entertainment and EXO's CBX has begun
Chen, Baekhyun, and Xiumin renewed their contracts with SM in December 2022. However, in June 2023, all three announced the termination of their exclusive contracts, citing unfair terms. MC Mong of BIG PLANET MADE was identified as the mastermind behind this instigation, but he denied the accusation.
After the dispute, both parties agreed that EXO’s group activities would be managed by SM, while individual activities would be handled by CBX’s new company. Additionally, a new contract was drafted stipulating that 10% of the new company’s revenue would be paid to SM for the duration of the revised contract. Baekhyun established INB100 in January 2023 and began individual activities with Chen and Xiumin.
In April 2023, SM contacted them to resolve the matter according to the agreement, but CBX provided evidence of the contract’s contents and refused to comply. Subsequently, INB100 joined ONE HUNDRED (the parent company of Big Planet Made). On June 10, INB100 held a press conference and declared, “It is unfair to pay 10% of the revenue to SM.”
If CBX does not fulfill its contractual obligations, SM may file a claim for damages. CBX is expected to respond by filing a lawsuit to nullify the contract.
