[NEWS] SME To Give TVXQ New Contracts?

SM Entertainment CEO's Kim Young Min, who is involved in the ‘unfair contract’ dispute with his artistes, 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 the 2nd of November 2009 at 63 Tower, has expressed, “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) enthusiastically.”

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 artistes 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 do 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.”