Three members of Asia's hottest band, Dong Bang Shin Ki, are filing a lawsuit against their own entertainment company SM Entertainment.
Band members Hero Jaejoong, Xiah Junsu, and Micky Yoochun have all gone to Seoul District Court to give in an application for provisional disposition to terminate the "non exclusivity clause" in their contract. [hidepost]
What is known of their current contract with SM includes belonging exclusively to the company for 13 years and the allocation of profits. Profits from album sales are 80% to SM Entertainment and 20% to the five members of the band and is split accordingly among them.
The three members all invested in a Chinese Cosmetics company called CreBeau. As gifts, the boys received items such as an Audi R8 for Micky Yoochun and a townhouse for Xiah Junsu's parents. SM Entertainment was not happy with this because of their "exclusivity clause" in their contract.
The lawyers for each of the three band members have stated that this situation has been discussed for over two months. They tried to keep the situation quiet but unfortunately, if has come to attention that actions must be taken if the exclusivity clause isn't dropped.
Rumor has it that if nothing is done, the three members will leave the group! I feel terrible for their fanbase, Cassopeia. They broke the Guiness World Record earlier this year... What would happen if they broke up? Each of the members of the group has amazing talent in what they do. Let's hope for the best for them!
UPDATE!
SM Entertainment has stated that TVXQ is a band that represents all of Asia and their activities must continue! Isn't that good news for everyone? I was afraid of the potential depressed/angry fans. Well, thank goodness they're still contunieing! It would be terrible to see such an amazing band fall.
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