SM Entertainment employees share their stance on the agency’s situation

SM Entertainment employees share their stance on the agency’s situation

The tense situation at SM Entertainment not only concerns CEOs and top managers, but also all employees of the company.

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Indeed, the latter are the first to be affected by an agency decision and as such their opinion is just as important.

On February 17th, a collective of 208 employees gathered to share the general opinion of SM Entertainment employees.

SM Entertainment recorded over 17 million albums in 2021

Here is their full announcement:

“When former executive producer Lee Soo Man was in danger of exposing his illegal tax evasion operations, he sold his shares to a rival company he spoke badly about and fled.

We, the members of SM, have been completely used in former executive producer Lee Soo Man’s illegal activities, including fraudulent activities for his personal interests and tax evasion.

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Even before the start of the SM 3.0 project, we can no longer be used by the illegality and expediency of HYBE.

Therefore, we, the 208 regular employees of SM Entertainment, make the following statement as we cannot contain our anger at the illegal collusion of former executive producer Lee Soo Man and HYBE.

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  1. We will protect K-Pop’s cultural diversity and SM’s distinctive identity. We declare that SM’s culture should not be subordinated to HYBE’s capital.
  2. We actively support CEO Lee Sung Su and Senior Executive Tak Young Joon’s self-reflection and their SM 3.0 multi-production plans. We also call for stronger protections for our artists and fans to keep them safe.
  3. We oppose HYBE’s hostile mergers and acquisitions and their timely attempt to join our board. We will resist HYBE’s attempt to take control of SM.
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“Lee Soo Man left SM and Pink Blood and ran away, but we will stay in Seoul Forest and protect SM and Pink Blood. »

Collective of 208 regular employees of SM Entertainment »

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What do you think ?