EXO Members Terminate Contracts, SM Entertainment Stock Price Plummets

In a recent development, the issue of unfair contract terms resurfaced in the Korean entertainment industry. Three members of SM Entertainment's male group, EXO, namely Baekhyun, Xiumin, and Chen, reported the termination of their exclusive contracts to the company, highlighting concerns about slave contracts.

In response to this incident, SM Entertainment stated that the termination of Baekhyun, Suho, and Xiumin's contracts posed no problem. They also pointed out the presence of external forces instigating tensions between the company and the members. The company proposed that artists disregard their exclusive contracts with SM Entertainment and sign dual contracts to protect both parties' interests.

This move sparked heated discussions among netizens. Moreover, due to the termination of exclusive contracts by EXO members Baekhyun, Xiumin, and Chen, SM Entertainment's stock price experienced a significant plunge, evaporating approximately 190.6 billion Korean won, equivalent to around 1 billion RMB, within a short period.