SM Changes It's Stand On Unfair Contracts?


SM Entertainment CEO’s Kim Young Min, who is involved in the ‘unfair
contract’ dispute with his artists, has recently announced a new
contract policy, and that it will be put into action once it gets
approved by the related authorities.

SM Entertainment representative, Kim Young Min, who attended the
press conference which was held on November 2, 2009 said, “We would collect all comments from music and
entertainment industries, related government departments, cultural and
tourism board, fair trade departments, educational circles and
legislative bodies, based on the law to adjudicate a new contract
policy. After the approval from the respective authorities, we would
then put it into action. Then follow it (new contract policy)

Kim agreed, “If we are able to come out with a new exclusive
contract policy based on the law, SM would like to re-contract with all
current artists based on it.”

Kim also expressed, “Under the new exclusive contract, the moment
it’s signed it would be protected till the contract ended, if not the
current situation would repeat over and over again in the future.”

“In order to prove that what have just I said is nothing but the
truth, we would first like to take the advice from the impartial
committee,” he said.

But, everyone was not able to fully believe this announcement by SM
Entertainment. Professor Lee from Korea Art University stated, “If SM
does not wish to have what they have just said to turned into nothing,
then they should assure them.” He continued, “Based on what SM have
said, they do not wish to fully take on the advice from the impartial
committee, but to forcefully come out with a new contract policy, which
was questionable (their announcement).”

Professor Lee ended, “If SM was really sincere about this, they
should work on the new contract based on the advice and not vice versa,
and then to get it approved by the representative authorities.”

Source: OhmyNews + OhMicky
Translation: sshutingg @
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