Entertainment", "SM ENTERTAINMENT GROUP DAN PT TRANS MEDIA CORPORA MENGUMUMKAN DIMULAINYA KERJASAMA STATEGIS DAN KOLABORASI ARTIS PERDANA", "5 Spot Foto Lucu di Kantor SM Entertainment Jakarta", "Ada Kantor Cabang, SM Entertainment di Indonesia Bakal Gelar Audisi", "Capitol Music Group & Caroline Sign K-Pop Stars NCT 127 to Distribution Deal", "Super M, 'The Avengers Of K-Pop,' Unveiled By SM Entertainment And Capitol Music Group", "Meet SuperM, the K-Pop Supergroup That Skyrocketed to the Top of the Billboard Charts", "K-Pop Powerhouse SM Entertainment, Home to NCT 127, SuperM and EXO, Inks With CAA", "K-pop stars look to online platforms to fill gap left by canceled performances", "SM and JYP join hands to lead global online concert brand growth! [62] The concerts are hosted on Naver's V Live app and made available to audience from more than 200 countries. ", "SM Entertainment records biggest Q1 profit", "SM Entertainment takes over travel agency", "Super Junior to Hold Encore Concert in Seoul in May", "Fantasies come true at the high-tech SM ART exhibit", "Kang Ho Dong Announces Return by Signing with SM C&C", "Three Reasons Why Kang Ho Dong Signed with SM", "SM C&C Takes Over AM Entertainment – Home to Jang Dong Gun, Kim Ha Neul and Others", "Lee Su Geun, Kim Byung Man Join Kang Ho Dong at SM C&C? and BoA. It was much too long (thirteen years total) and the idols felt that only the agency would benefit from such terms. [14], In February 2010, after two decades on SM Entertainment's board of directors, founder Lee Soo-man resigned from his position in order to "focus more energy on SM's overseas business, new business management, and artist development.”[15] In March of the same year, KMP Holdings was established as a joint venture between SM Entertainment, YG Entertainment, JYP Entertainment, Star Empire, Medialine, CAN Entertainment, and Music Factory. [17], In April 2011, SM Entertainment, YG Entertainment, JYP Entertainment, KeyEast, AMENT, and Star J Entertainment came together to form United Asia Management, a joint investment agency geared towards advancing Asian music worldwide. 4. On top of that, SM Entertainment gives an incentive of 50 million KRW when they reach over 500,000 albums sold, and 100 million when over 1 million albums are sold. [51], In October 2018, SM partnered up with Trans Media of Indonesia, which was owned by CT Corp.[52] In February 2019, Trans Media and SM signed their Heads of Joint Venture Agreement together. The documents from the case were requested, and the site, GOT7 get in the studio after leaving JYP Entertainment in 'Encore' MV, Contestant on newly premiered 'School Rapper 4' admits to sexual assault, to be edited out of the season, "The original is perfect already" Netizens are angry that the South Korean Box office hit 'Train to Busan' will get an American remake, "Are you gay?" As for unfair contract terms, the court had agreed that SM Entertainment's contract terms were not unfair. In 2003, SM became affiliated with Starlight Corporation Ltd. and C-Cube Entertainment Corporation. "[108][109], On November 21, 2009, SM Entertainment boycotted the Mnet Asian Music Awards event, claiming reservations regarding the standard of fairness and the criteria used in Mnet's selections for award recipients. The idols questioned the legality of it. was contemplating on leaving after his contract expired.SM claimed EXO still had a lot of time left on their contract despite 2019 being their 7th anniversary. [77] The news of this dispute caused SM Entertainment's KOSPI stock price to drop by 10.06%. SM Entertainment must pay each of the JYJ members 650 million KRW (approximately 570,000 USD) within 10 days. 2. We previously mentioned that some of these contracts could last up to 10 years. The Korean Fair Trade Commission then created a rule in 2009 limiting entertainment contracts to seven years. I will cherish the many years we spent and I wish SM the best of luck in all of its endeavors. However, that ruling was temporary and had already expired by 2012. Companies including SM, FNC, and DSP were told by the FTC to stop canceling trainee contracts on dubious grounds, such as morality clauses. On January 5, 2016, SM won one of its counter-lawsuits against Tao per the ruling of the Intermediate People's Court in Qingdao, China. The company then stated that the group would henceforth continue as eight, while they would still manage Jung's individual schedule. [23] In August, SM held an art exhibition at the COEX Convention & Exhibition Center,[24] and collaborated with Visa and KB Kookmin Card to begin printing SM artist cards. [89] The artist's friend and later manager Sun Le also submitted a statement to the Korean courts citing SM Entertainment's violation of Han Geng's rights, which was later leaked via the internet. The profit division in SM's contract is unfair, so SM must pay JYJ the difference as calculated by the ratio JYJ wants according to the February 15th, 2007 contract (2nd revision) for all profits before and after. In 2010, the Korea Fair Trade Commission (KFTC) undertook an investigation into SM Entertainment's policies, especially regarding artists' contract terms, and concluded that they were unfair. [79], Their statement read, "(They) have had health problems and finally reached their physical limits, but SM Entertainment continued to send them abroad and plan excessive activities. The company's first venture was a production of the American musical comedy Xanadu, starring Super Junior members Heechul and Kangin. [42] WayV is being managed by their own sub-label, Label V.[42], At the beginning of the year, the company opened a restaurant, SMT Seoul,[43] and also established a series of stores selling branded foods under the name SUM Market. Although $3 billion is the monetary outcome, a lot of money is put into these groups prior to, during and after […] #5 SM. [50] In March 2017, SM acquired the independent record label Mystic Entertainment, becoming the label's largest shareholder. This means that the members are paid extra when they reached that amount sold. SHINee will be continuing with SM Entertainment! SM Entertainment confirmed that EXO has a longer contract than the usual 7 years when they shut down rumors that D.O. EXO has been with SM Entertainment since their debut 7 years ago. [citation needed] The stock's worth contracted by 15%, hitting the maximum decrease in price KOSDAQ allows for a day, and falling to a more-than-one-year low. But before agreements could be made, she had set up her independent business, which caused problems for the group's professional schedules. Below are the points that SM Entertainment made during their lawsuit against JYJ. Among these lawsuits, SM filed a lawsuit against Tao for failing to repay SM on October 13, 2015. [81][82] In early May 2010, it was announced that Jaejoong, Yoochun, and Junsu would return to the stage as JYJ under a new management agency, C-JeS Entertainment. This is the second part of our battle of The Big 3 (SM Entertainment vs YG Entertainment vs JYP Entertainment) In this post we will compare marketing/promotion/media play, wages/profits/income distribution and contracts/trainees. The contract with SM Entertainment would last 10 years after EXO's debut, which the attorney highlighted as being too long. [3][4] SM is known for having led the global K-pop phenomenon and the musical side of "Hallyu",[5] also known as the "Korean Wave", with early overseas successes such as H.O.T. SM also cited the fact that voters had to pay a fee, saying that they "did not want to see fans suffer any damage from the poll, which has commercial intentions. It was much too long (thirteen years total) and the idols felt that only the agency would benefit from such terms. [36], In January 2016, founder Lee Soo-man held a conference at the SM Coex Artium, announcing plans for a new boy group, NCT (Neo Culture Technology), with "unlimited members". An intermediate court in Qingdao, China made the verdict that Tao is to repay SM Entertainment as well as interest for the delayed payment. In 2013, SM C&C acquired Hoon Media (a production company led by Lee Hoon-hee, responsible for KBS serials 1 vs 100, Heroines 6, Qualifications of Men, and Music Bank) and Woollim Entertainment, a record label responsible for artists such as Infinite. Also include an interest of 20% per year not paid. Artist contracts were subsequently reduced by a length of three years, and there was a reduction in the penalties for breach-of-contract violations. The group made a special guest appearance on the May 30 broadcast of MBC”s “Radio Star.” At … The idols questioned the legality of it. [98], However, according to SM, Jung had unilaterally informed them in early spring that she would leave the group after one more album. [32] In February, SM acquired a share in Baljunso, an indie record label founded in 1991 by Kang Byung-yong. "[113], In August 2014, after the release of Red Velvet's music video for "Happiness", Japanese media reported that images referencing the bombing of Hiroshima and Nagasaki, as well as the 9/11 attacks, were seen in the background of the video. was … [72], In late July 2009, three of the five original members of SM Entertainment boy group TVXQ – Kim Jaejoong, Park Yoochun, and Kim Junsu – applied to the Seoul Central District Court to investigate the validity of their contract with SM,[74][75] as they felt the thirteen-year contract was excessively long and that earnings were not fairly distributed to the members,[76] but contract destruction, they shall be compensated to the Employer by three times the total investment amount and two times the ordinary profit during the remaining contract period. A huge part of that $3 billion comes from the K-Pop industry which has fans all over the world. After rumors that Jaejoong�was being rotated out, the five members and parents themselves requested that the contract period be lengthened. Officially it's 7 years but there's a loophole SM abuses that if the group has overseas activities, it can be extended to 10 years. [8] SM then developed an in-house production system and created a string of successful artists, including boy band H.O.T. [83] The injunction was dismissed by the Seoul Central District Court on February 17, 2011, and the final decision on the case was postponed indefinitely for mediation under the justice department. The audit report is said to be of SM Entertainment The contract of 9 EXO members with SM is expected to expire this year despite many other sources assuming that their contracts may last until 2022. In mid-2000, the company was approved and listed in KOSDAQ as 041510. She's now 22. The representative added, "As SM wasn't able to catch it before, we will remove the material that caused the misunderstanding as soon as possible. Sehun replies to a netizen's rude question on Instagram live, GOT7 drop black-and-white 'Encore' MV teaser, KEEMBO (SPICA's Boa & Bohyung) reveal 'Scandal' album highlight medley, Newkidd's Hansol reportedly enlisting in 2 days, Golden Child's Daeyeol & Tag 'Breathe' in sporty teaser images, ATEEZ' San shows off his abs in 'ZERO: FEVER Part 2' teaser images, Girls' Generation reportedly discussing new album & SM Entertainment responds. © 2007 - 2021 6Theory Media, LLC. Pay about 5 billion KRW (approximately 4.3 million KRW) total as a sum of 2 and 3. SM can renegotiate any contract or make reparations for past injustices that they’d like to. Pink is SM Entertainment’s argument. ", "(kt PR room) KT to acquire KMP Holdings to strengthen its music businesses", "SM Entertainment Acquires Woollim Entertainment, Creates New Sublabel", "SM, YG, JYP lead 7 companies as KT Music's new stakeholders", "KPOP NEWS – SM Entertainment Invests in Indie Label Baljunso to Spotlight Nonmainstream Music | Mwave", SM, IB Worldwide ink deal to create 'sportainment', "KPOP NEWS – Exclusive Super Junior Label ′Lable SJ′ [sic] Established for 10th Anniversary", "041510.KQ Income Statement | S.M. On August 3, Naver invested ₩100 billion in SM. On December 21, 2009, five months after the three former TVXQ members filed their lawsuit and while the dispute was still active, Han Geng, the only Chinese member of Super Junior, also filed a lawsuit against SM. The recent revisions to contracts are for trainees, not for current label artists. Entertainment companies continually form, merge, re-form, and dissolve. In early 2000, SM Entertainment agreed to share the split from 5,000 won to 500 per a share. 1. [96], In April 2015, No Min-woo, a former member of TRAX, filed a lawsuit against SM for subjecting him to an unlawful seventeen-year contract. SM later uploaded a new version of the music video without the controversial images. Not long ago there were rumors of D.O. Simple, which marked the end of SM's self-distribution. [10] Shinhwa departed to a new agency, and new acts like the duo Isak N Jiyeon and the boy band Black Beat failed to attain the popularity of previous SM artists. Kangta, BoA, and most members of Super Junior and Girls’ Generation received 680 shares each (with a value of approximately US$27,200 per person), while members of more recent groups like Shinee and f(x) received 340 shares each (with a value of around US$13,600 per person). After graduating from Seoul National University and pursuing his own career as a singer, Lee Soo Man surveyed teenage girls on what they wanted to see in music groups and started the boy group H.O.T. [68], On June 12, it was announced that SM partnered with Seoul Philharmonic Orchestra to record orchestral versions of popular SM K-pop songs under the name SM Classics. All of the costs are taken in by SM Entertainment themselves, and the members get a percentage of not the pure profit, but the total sales (meaning before costs and such are subtracted). They released an official statement saying, "SM has ongoing lawsuits against EXO members Wu Yifan (Kris), Luhan, and Tao for violating their exclusive contracts and partaking in illegal promotions in China. Although $3 billion is the monetary outcome, a lot of money is put … The contract between SM and JYJ is written with profit division in JYJ's favor, and therefore is valid. [63] A day later, SM announced its partnership with JYP Entertainment to establish Beyond LIVE Corporation, a joint company for producing Beyond LIVE concerts. Specifically, according to the 2018 audit report, all EXO and f(x)’s members have re-signed their contracts with SM Entertainment, but it … [86] SM reportedly stated that they had decided to end the litigation "to avoid bringing additional harm to U-Know Yunho and Max Changmin, who are active as TVXQ, and to avoid making any more unneeded issues."[87][88]. The company has developed and popularized numerous K-pop stars with huge global fandoms. On August 16, the Seoul High Court revealed their verdict on the issue: "The KFTC has canceled all corrective orders against SM Entertainment, and the lawsuit costs will be paid by the defendant. The lawsuit fees must be paid by themselves, and all demand for damages is dismissed. [12] Around the same time, the company was approved for listing on KOSDAQ, and SM established an affiliation with the Japanese major label Avex Trax. In May 2008, the SM Art Company opened under co-CEO Pyo In-bong, with a focus on producing theatrical works. [101][102][103] His lawsuit included the claim that SM had favored the Korean sub-unit EXO-K over the Chinese sub-unit EXO-M. Rumors claimed they signed a 10-year contract at the time of their debut. [110] The company specifically mentioned Girls' Generation, who had topped Korean music charts for nine consecutive weeks and had won numerous awards for their single "Genie", but had never won on Mnet's weekly M! In 2010, the Korea Fair Trade Commission (KFTC) undertook an investigation into SM Entertainment's policies, especially regarding artists' contract terms, and concluded that they were unfair. Launched! The entertainment industry exists in a state of economic uncertainty. Personal Service … members Jaejoong, Yoochun, and Junsu (JYJ) took SM Entertainment to court over the "slave contracts". "[80], The court ruled in the favour of the three ex-members. If SM interferes with JYJ promotions, they must pay 20 million KRW (approximately 17,000 USD) each time. Why? [19] In February, SM acquired Hawaiian travel firm Happy Hawaii and launched SMTown Travel, a new business initiative specializing in travel and tourism under Kang Jung-hyun. [69][70] SM Classics has released three reworked songs so far: "Red Flavor" by Red Velvet, "End of a Day" by Jonghyun, and "Tree" by BoA. Therefore, there is a liability to JYJ to pay SM for damages. Through a press release on the 21 st of July, SM Entertainment said that the court has ruled that the the contract between the agency and the former EXO members would be … The following years saw the debuts of artists such as TRAX (2004), The Grace (2005), and Super Junior (2005). Soon thereafter, Lee created Shinhwa, and once again, the band attained the same popularity and success, continuing Lee's streak of producing successful artists. [105] No alleged that SM had also interfered with his career after he had left the company, and sought KR₩100 million in damages. - Sunny's contract on SM Entertainment is a FREEDOM CONTRACT. [46][47] ScreaM Records opened as part of SM's New Culture Technology 2016 project, under which SM also initiated the digital music channel SM Station and a number of mobile apps. In May, SM announced its highest ever first quarter operating profits, at KR₩10.4 billion, up 471% from the same period the previous year. [57] The group debuted in October 2019. In Japan, SM Entertainment co-publishes Avex Trax releases for artists including Ayumi Hamasaki, Namie Amuro, and Koda Kumi, as well as Johnny's Entertainment artists such as Arashi and KAT-TUN.[7]. We will make sure not to let this kind of thing happen in the future." "[100], On October 10, 2014, Lu Han became the second Chinese member of EXO to file to nullify his contract with SM Entertainment and leave the group, just over four months after Kris had done the same. After graduating from California State University, Northridge in the United States, Lee Soo-man returned to Korea and in 1989 established what was then known as "SM Studio" in the Apgujeong neighborhood of Gangnam, Seoul. The agency sued Tao over his failure to repay the company after his departure. Artist contracts were subsequently reduced by a length of three years, and there was a reduction in the penalties for breach-of-contract violations. Despite the lawsuit and having ceased activities as an EXO-M member, the two entertainers have continued activities in China as actors. The joint efforts leads to the creation of Beyond Live, a series of online live concerts, which were created in light of the ongoing COVID-19 pandemic. SM Entertainment has taken legal actions against Kris (Wu Yifan) and Luhan, former members of EXO-M, for continuing their own activities in China.. [93][94] He was represented by Cho Bum-suk, the same lawyer that handled Han Geng's case. ", "SM Entertainment, JYP Entertainment join forces for Beyond LIVE Corporation", "SMTOWN@coexartium business closure notice", "SM Entertainment to build culture playground in Changwon", "SM 엔터, 'K팝 스타 양성' 교육기관 설립…2021년 3월 개강 [공식입장]", "TVXQ to Stick Together Despite Legal Dispute", "TVXQ is a 'slave contract' ... SM, 'quasi-fraud, Korea Hot Stocks – Hankook Tire, SM Ent, Ssangyong Motor, "TVXQ Fan Club Files for Compensation for Cancelled Concert", "SM Entertainment Calls the TVXQ Suit a Big Fraud", "JYJ Win Legal Battle with Former Management", "Decision on JYJ vs. SM Entertainment Case Postponed Indefinitely for Mediation", "SM and JYJ Put an End to Their Long, Winding Legal Suit", "JYJ, SM Come to Agreement Regarding Exclusive Contract Issue", "Exclusive Interview with Han Geng's Team", "SM Entertainment's official position: Han Geng has "come to a mutual agreement, and will terminate proceedings, "Han Geng's official position: "SM Entertainment has amicably agreed, "EXO-M's Kris sues SM to end exclusive contract", "SM Entertainment's lawsuit history over 'unfair contracts, "Kris And Luhan's Contract Lawsuit Against SM Entertainment Ends", Jung's Weibo update on September 30, 2014, SM States that SNSD will Promote as Eight Without Jessica, "Former Girls' Generation Member Jessica Officially Leaves SM Entertainment", "EXO Member Luhan Files Lawsuit To Leave K-Pop Group", "No Min-woo files damage suit against SM", "No Min Woo Loses Lawsuit Against SM Entertainment – Soompi", "SM Entertainment Wins Lawsuit Against Tao", "Music Awards Has Fresh Yet Disappointing Start", "FTC, SM modified the contract of exclusive contract 'recognition, "Red Velvet Re-Releases 'Happiness' MV with Edited Scenes", Television production companies of South Korea, https://en.wikipedia.org/w/index.php?title=SM_Entertainment&oldid=1007429535, South Korean companies established in 1995, Event management companies of South Korea, Music publishing companies of South Korea, Articles with Korean-language sources (ko), Articles with dead external links from February 2021, Articles with permanently dead external links, Articles with unsourced statements from May 2016, Articles with unsourced statements from April 2020, Official website different in Wikidata and Wikipedia, Wikipedia articles with MusicBrainz label identifiers, Wikipedia articles with multiple identifiers, Creative Commons Attribution-ShareAlike License, SM Entertainment Classic Label (Since 2020), This page was last edited on 18 February 2021, at 02:35. - Sooyoung's contract on SM Entertainment will expire 5 years till 23. [104] On July 21, 2016, Lu Han officially parted ways with EXO, although his contract with SM remains valid until 2022. Because of this instability, the entertainment industry relies on complex contracts, which usually are drafted to protect entertainment companies against economic risk. In 1999, Lee created Korea's first R&B duo, Fly to the Sky, with members H… It also manages actors, including Kim Min-jong, Lee Jae-ryong, Yoo Ho-jeong, Ki Do-hun and previously represented Lee Yeon-hee, Go Ara. Artist contracts were subsequently reduced by a length of three years, and there was a reduction in the penalties for breach-of-contract violations. [44] On February 11, 2016, the Chinese e-commerce giant Alibaba Group acquired a 4 percent minority stake in SM Entertainment for US$30 million. Plans for the school to be certified as an alternative program for domestic Korean middle and high school education, as well as US secondary school education, are also underway. In October 2008, SM announced plans for BoA's debut in the American market, under a newly formed subsidiary label named SM Entertainment USA. [20][21] Later that year, SMTown Travel offered package deals for overseas fans attending Super Junior's Super Show 4 Tour encore concerts in Seoul. It was also recognized that there is profit only after 50,000 albums were sold. Han Geng filed for similar reasons: unfair profit distribution, and an unfair thirteen-year contract that contained provisions in SM's favor that he was not allowed to revise or end. 3. Entertainment contracts are sometimes also referred to as a booking agreement, engagement contract, appearance contract, or other. The early 2000s saw the disbandment of both H.O.T (in 2001) and S.E.S (in 2002). That August, SM joined with Thai media company TrueVisions to create an international joint venture, SM True. departure from the entertainment company following the end of the contracts of EXO members. SM Entertainment Co., Ltd. (Korean: SM엔터테인먼트) is a South Korean entertainment company founded in 1995 by Lee Soo-man. Jung Hae-ik was appointed CEO at the time of SM Entertainment's official reestablishment in 1995,[9] and was succeeded by Kim Kyung-wook in 1998. 4. SM Entertainment's Defense #1 Legal And Fair. On September 29, 2014, Girls' Generation member Jessica Jung claimed in a Weibo post that she had been forced out of the group, writing: I was excited about our upcoming fan events only to shockingly be informed by my company and 8 others that as of today, I'm no longer a member. - Taeyeon's contract on SM Entertainment will expire 15 years until 34 years old. She claimed to have received the day before a "one-sided notice" asking her to leave the group. In other words, the 'slave contract' that JYJ had insisted upon was not true, as if it were, the court would have ordered SM Entertainment to pay the full amount JYJ had demanded, not to mention dismiss that the contract had ever been valid. TVXQ's Kim Jaejoong finalized his contract with SM on May 14th, 2003, Kim Junsu on February 12th, 2000, and Park Yoochun on June 30th, 2003. The contract between JYJ and SM is valid until July 31st, 2009, and it is now over.
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