[OVERVIEW] EXO CBX press conference on June 10th

exo cbs press conference
EXO CBX Press Conference credit: MBC

EXO CBX Press Conference has finished

After establishing an independent label, EXO CBX member Chen Baekhyun Xiumin who eventually joined hands with MC Mong established another day for SM Entertainment (hereinafter referred to as “SM”). This is because the terms of the agreement written under mutual agreement in the process of resolving the dispute are not followed this time, following the issue of the exclusive contract that they signed themselves last year.

Chairman Kim Dong-joon of CBX’s agency INB100, Chairman Cha Gawon who founded INB100’s parent company 100 with MC Mong, and lawyer Lee Jae-hak, CBX’s legal representative, held an emergency press conference at the Shilla Hotel Guest House in Jangchung-dong, Seoul on the afternoon of the 10th. It was the meeting where SM Entertainment claimed that the agreement reached with CBX last year was a “blind eye.”

exo cbx press conference
EXO CBX credit:INB 100

The lawyer said, “SM failed to meet the 5.5 percent music distribution fee that it proposed and promised to guarantee under the terms of the settlement. At the same time, they acted unfairly demanding 10 percent for individual activities such as music, concert, and advertisement. We demand that SM stop making unreasonable demands (paying 10 percent of sales) as it violated the terms of the settlement agreement first.”

“Last year’s agreement was a big concession made by the city of CBX to put EXO and fans first. However, SM does not keep its promise of 5.5 percent commission, but rather demands that it pay 10 percent of its sales. We will no longer remain silent on unreasonable demands. It is a kind of fraudulent agreement, and we will start a full-scale war from now on,” Chairman Cha said.

As for her relationship with Baekhyun, Cha Gawon said, “He is just a close younger brother. The first time we discussed this issue was in February last year. Baekhyun signed a new contract with the intention of protecting EXO, but he thought the contract was unfair, so he expressed his concerns to me and MC Mong. I was not interested in entertainment companies, while I sympathized with Baekhyun, and I intervened by giving advice.”

“Baekhyun and I are close to each other beyond our family. It is definitely not tampering (violation of rules in which other teams contact a player who has not signed a contract with the team and is not eligible for FA without consent from the team). It was before the acquisition of Big Planet Made in the wake of the CBX incident. It should not be connected to tampering. Baekhyun has been consulting at a difficult time, and MC Mong is a senior in the entertainment industry, and I just gave him advice as an acquaintance,” he said.

Earlier in June last year, the three members announced that they had informed SM Entertainment of the termination of their exclusive contract through their legal representatives. The reason was that the contract was unfair. However, the three members of EXO, along with their lawyers, had already signed a contract with SM in December 2022. In response, SM raised suspicions of outside influence.

MC Mong, who was pointed out as an outside force at the time, claimed that it had nothing to do with the dispute between the three and SM, but just met Baekhyun and consulted him as a senior in the industry. Then, a few days later, CBX said it had reached an amicable agreement with SM, and Baekhyun announced the establishment of a private company in August, saying he was trying to produce it.

Also in January, Baekhyun officially established the independent label INB100. Baekhyun, Xiumin, and Chen’s individual and CBX activities will be carried out by INB100, and EXO’s activities will be carried out by SM Entertainment as before. And in May, INB100 was incorporated into a One Hundred subsidiary that MC Mong, who was considered an outside force, established as a joint investment with PIC Group Chairman.

Previous article about INB100 Press Conference, CLICK HERE.

Source of the picture – https://m.entertain.naver.com/now/article/112/0003702282

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