Instead of leaving SM, CBX have decided to make some modifications to their existing contracts and continue their activities as EXO.
On June 19th, SM Entertainment released a joint statement with Chen, Baekhyun, and Xiumin. In particular, they stated, “The three artists and our company have had ample time to discuss all the issues. Through this process, we were able to resolve the misunderstandings and reach a mutual agreement. We are pleased to announce the following statement.”
Both parties agreed to acknowledge and maintain the artist’s contractual relationship while actively and continuously engaging in EXO’s activities through certain discussions and modifications.
SM stated, “We have listened to and understood the thoughts of the three artists, and also conveyed our detailed position to them. The three artists have opened their hearts and understood our position regarding the contracts. As a result, our company and the three artists have promised to proceed with equal consultation and modification processes to solidify our future relationship. Our company will support and encourage the three artists to express their individuality fully and engage in activities in their own unique ways.”
Regarding the previously raised issue of a third-party intervention, SM apologized, saying that there were misunderstandings. They said, “Initially, our company received reports of a third-party’s unfair approach to the three artists, which was mentioned as a major cause of the recent controversy. However, we have realized that our company had misunderstandings regarding the involvement of a third party. We would like to apologize to the concerned individuals for causing them concerns through our announcement.”
Both SM and Chen, Baekhyun, and Xiumin expressed their apologies, “We apologize to the fans, including the other EXO members and those who have believed in and waited for the three artists. We will do our best to repay the support of many fans.”
Lastly, SM stated, “Drawing inspiration from the support of our fans, we aim to grow even further and envision a more mature future for SM 3.0. Under the new values and developments of SM 3.0, we will enhance and strengthen our mutual collaboration and respect with the artists.”
Source: Naver
