As SM’s internal conflict is intensifying after HYBE and Kakao acquired SM shares, attention is focused on whether SM artist will also express their opinions.
Producer Yoo Young Jin released a statement on February 10th, saying “SM is not the true SM without teacher Lee Soo Man’s producing capabilities”. He disagreed with “SM 3.0” strategy announced by SM’s current CEOs on February 3rd and decided to follow Lee Soo Man.
Yoo Young Jin is a producer/composer who has worked with SM since the 1990s and participated in albums of many SM artists, including H.O.T, S.E.S, Shinhwa, BoA, TVXQ, SHINee, Girls’ Generation, EXO, and aespa. The fact that Yoo Young Ji, who had refrained from exposing himself to the media for the past 30 years, suddenly spoke up and declared that he cannot continue to work with SM without Lee Soo Man is a meaningful signal.
On the other hand, co-CEOs Lee Sung Soo and Tak Young Joon, who are currently managing SM, stated on the same day, “We oppose all kinds of hostile M&A (mergers and acquisitions)”. Regarding HYBE’s acquisition of SM shares, “This hostile M&A ignores not only SM’s efforts but also the values that SM has pursued together with the artists”. They emphasized, “SM has about 600 executives and employees who are working days and nights to do their best in their respective positions”, adding “We will escape from the old management system in which the authorities were in the hand of only one person and show everyone that we will grow and share joys as well as rewards with the artists”.
Earlier, singer/actor Kim Min Jong, who has been with SM for 17 years, also sent an e-mail to SM employees on the 5th, claiming that Lee Soo Man’s capabilities are essential for SM artists’ activities.
As the conflict continues, people are waiting to see if SM artists will also express their positions and choose their side between SM’s current management team and former executive producer Lee Soo Man.
Sources: daum
