HYBE, “Lee Soo Man receives no royalties after signing the stock contract… We’ve never heard of his ‘planting trees’ campaign”
HYBE responded to the recent statement of SM Entertainment CEO Lee Sung Soo.
On February 16th, HYBE released an official position, saying “We would like to explain the contents related to HYBE mentioned in ‘SM Entertainment CEO Lee Sung Soo’s Statement_Part 1’.”
Regarding the claim that Lee Soo Man is allowed to participate in producing activities overseas, HYBE explained, “Producing activities are individual production works that are not related to SM Entertainment”, adding “It does not mean he will return to SM after three years”.
As for the suspicion raised by CEO Lee Sung Soo that Lee Soo Man receives royalties directly from CT Planning Limited, described as a foreign company similar to “Like Planning”, HYBE firmly stated, “We have not received any information about CT Planning Limited”.
They added, “We already confirmed that there are no business connections between SM and former executive producer Lee in our stock purchase contract, and producer Lee has not received any royalties since he signed the contract. If the contract (with CT Planning Limited) exits, we would resolve it completely.”
Regarding Lee Soo Man’s “planting trees” and “Sustainability” campaigns, HYBE said, “There is no reason for us to get involved in any type of activities or campaigns related to former executive producer Lee unless they are directly linked to SM”, adding “We have never received any details about the ESG-related campaign.”
Source: naver
