3 EXO Members Have Resolved Their Dispute With SM Entertainment

After settling their differences on a contract issue, three members of the K-pop group EXO have chosen to continue their exclusive contracts with SM Entertainment, both parties said on Monday.

The nine-piece group's Baekhyun, Xiumin, and Chen have been at odds with the K-pop giant over what they believed to be excessively long-term contracts and the agency's lack of transparency in financial settlements.

SM, on the other hand, had denied the allegation, claiming that the contracts were valid and that the artists had been convinced to sign two contracts with the new agency by a third party.

In a joint statement, the three members and SM Entertainment announced that they had "resolved their differences caused by misunderstandings and reached a mutual agreement based on smooth communication."

"Both parties have decided to continue pursuing EXO's activities more actively and consistently while acknowledging and maintaining the contracts," they added, noting that some of the contracts had been altered to better reflect each party's perspective.

They avoided providing more information on the agreement.

The joint statement states that SM also apologised to those affected and acknowledged that its claim regarding the multiple contracts was based on false information.

It is believed that the agreement would lead to a speedy settlement of the dispute.
The trio presented their argument earlier this month to the Fair Trade Commission, a government regulatory organisation in charge of keeping an eye on unfair trade practices. 

This action aroused worries that the conflict would turn into a legal issue, thereby delaying the group's ongoing projects.

EXO is scheduled to drop "Exist," its seventh full-length album, next month.

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