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Since SM Entertainment's current CEO Lee Sung-woo's recent radical comments against Lee Soo-man were made public, 208 employees of the entertainment agency have shared a collective statement on their stance on the company's current situation.
In their detailed statement, it was revealed that all 208 regular employees of SM Entertainment had to take part in Lee Soo-man's shady business, including tax evasion. They were also adamant about not allowing HYBE to enter the board of directors and take control over SM's activities.
In fact, HYBE becoming the majority stakeholder in SM Entertainment has stirred up considerable drama in the K-pop industry, with multiple revelations soon following about the extent of the agency's control over the company's activities.
208 SM Entertainment employees share a combined statement to speak about the company's current situation
In a joint statement, SM employees shared their thoughts in context to SM Entertainment's current ongoing situation. They wrote:
"Once former chief producer Lee Soo Man was in danger of having his illegal tax evading actions unveiled, he sold his shares to a competitor company that he used to speak ill of and ran away."
It further continued:
"Us members of SM have been completely used in former chief producer Lee Soo Man’s illegal acts including fraudulent actions for his personal interests and tax evasion. We cannot be used by HYBE’s illegality and expediency again even before we begin the SM 3.0 project."
They called out Lee Soo-man for his illegal activities as well as HYBE for supporting SM's founder and former chief producer.
Furthermore, they also shared in the statement that they will continue to protect K-pop's cultural diversity and SM's distinct identity and not let SM's culture get subordinated by HYBE's capital.
The employees have also expressed their intention to actively abide by CEO Lee Sung-su and COO Tak Young-joon’s plans for SM 3.0 multi-producing. One of their demands also refers to a stronger protection for their artists and fans to keep them out of harm's way in the future. Their final point pinpointed HYBE's hostile M&A and their advantageous way to enter SM's board of directors.
Their statement concluded with some bold remarks, including:
“We will resist HYBE’s attempt to take over SM in an abnormal manner. Lee Soo Man deserted SM and Pink Blood and ran away, but we will remain at Seoul Forest and protect SM and Pink Blood.”
Lee Sung-su, who is Lee Soo-man's nephew, claimed that his uncle was involved in illegal tax evasion for his own personal benefit and also ruined aespa's comeback. The former also revealed that Lee's idea of a "SMart Music City," with music festivals, open auditions, creative collaborations, a drone port, and more, was largely for the purpose of satiating his own greed.
