EXO's Chen, Baekhyun, and Xiumin will remain with their agency SM Entertainment after they reportedly resolved their contract dispute with a "mutually amicable agreement."
In a joint statement released on Monday, June 19, the company and the EXO-CBX members said they have successfully addressed the misunderstandings that led to their conflicts and have come to a mutually agreeable resolution, emphasizing their commitment to moving forward and actively expanding their endeavors together.
“The agency and the three artists will acknowledge and maintain the contract relationship while carrying out EXO’s scheduled activities more actively and continuously through the process of discussion and correction of certain parts,” their statement read, according to a Soompi translation.
According to SM, both sides decided to “strengthen [their] future relationship” after coming to an understanding about the EXO members’ contracts.
“[SM] listened attentively and understood all the thoughts of the three artists, and the agency also conveyed our position regarding this in detail. The three artists also opened up their hearts, and they understood our stance regarding artist contracts,” they said.
“Furthermore, the agency will support the three artists so that each artist can carry out promotional activities in new ways while fully showcasing each artist’s individuality.”
Earlier this month, the EXO members announced the termination of their contracts with SM Entertainment, citing their "slave contracts."
In defense, the agency asserted that a third-party external force was pressuring the three EXO members to sign a dual contract, acknowledging that it was an incorrect claim.
EXO will release their 7th regular album ‘EXIST’ next month, on July 10.
