SM Entertainment staff issue statement against Lee Soo Man and HYBE Soompi

SM Entertainment employees have decided to speak publicly about the agency’s situation with former executive producer Lee Soo Man and HYBE.

On February 17, a collective of 208 employees published the following press release:

“When former executive producer Lee Soo Man was in danger of having his illegal tax evasion activities exposed, he sold his shares to a rival company he always 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. 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 former executive producer Lee Soo Man and HYBE’s illegal collusion.

1. We will protect the cultural diversity of K-Pop and the distinctive identity of SM. We declare that SM’s culture should not be subordinated to HYBE’s capital.

2. We actively support Co-CEOs Lee Seong Soo and 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 hostile mergers and acquisitions by HYBE and their timely attempt to join our board. We will resist HYBE’s attempt to take control of SM.

“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 »

Source: Sportsdonga