Hybe in his statement revealed that there was no business relationship between SM Entertainment and former executive producer Lee Soo Man in their shares purchase contract.
Co-Ceo SM Lee Sung Soo recently made a long statement related to Lee Soo Man. One of them is suspicion that there is a hidden thing in the process of purchasing Lee Soo Man shares by Hybe some time ago.
Upon the suspicion, Hybe also opened his voice to give a response on Thursday (16/2). "We want to explain the content related to the Hybe mentioned in the 'CEO statement of Lee Sung Soo SM Entertainment_part 1'," said the giant label.
Hybe highlighted Lee Soo Man's claims that were permitted to participate in production activities abroad. "Production activities are individual production work that is not related to SM Entertainment. That does not mean he will return to SM after three years," Hybe wrote.
Co-CEO SM Lee Sung Soo previously suspected that Lee Soo Man would receive direct royalties from CT Planning Limited, a foreign company similar to "like planning". Hybe firmly stated, "We have not received any information about CT Planning Limited."
Hybe revealed that there was no business relationship between SM Entertainment and former executive producer Lee Soo Man in their shares purchase contract. "Producer Lee has not received royalties since he signed the contract," added Hybe.
Hybe revealed that if the contract (with CT Planning Limited) came out, they would complete it. Hybe once again stressed that it was not seen in the project of planting trees and the sustainability of the earth that was being intensified by Lee Soo Man.
"There is no reason for us to be involved in all types of activities or campaigns related to former executive producer Lee except they are directly related to SM. We have never received any details about the campaign related to ESG," concluded Hybe.
In his statement on Thursday (16/2) morning, SM Lee Sung Soo's co-Ceo revealed his suspicion. "(In a contract with Hybe), Lee Soo Man's role as a producer in the country is limited to three years, but there is no limit to his role as a producer abroad," he said.
"Why did you make a clause for overseas production in a stock acquisition contract? Does Hybe agree even though you realize that the foreign business of Lee Soo Man (CTP) might be illegal? Or do they sign the contract without knowing it?" asked co-ceo sm Lee Sung Soo. (wk/charity)
