It has recently been confirmed that SM Entertainment seized the assets of EXO’s Chen, Baekhyun, and Xiumin (EXO-CBX). This is to secure a claim equivalent to 10% of their individual sales.

Previously, EXO-CBX notified SM of their intention ot terminate their exclusive contract in 2023, due to unfair contract terms and other issues. They agreed to work under a separate company, with the condition that SM would pay 10% of their individual sales. However, conflicts led to a legal dispute when CBX later refused to pay royalties, claiming SM had breached the agreement.

According to Biz Korea, SM seized the members’ assets over two days, February 9-10.

The assets included Chen’s house deposit bond, Baekhyun’s apartment in Acheon-dong, and Xiumin’s apartment in Hannam-dong. Baekhyun’s apartment was registered in October 2023, while Xiumin’s apartment was registered just last month.

The total amount SM is claiming from EXO-CBX in the seizure is ₩2.60 billion KRW (about $1.78 million USD). This is to secure claims equivalent to 10% of individuals’ sales from the agreement reached between the two parties in June 2023. A seizure is taken to prevent the debtor from disposing of his or her assets to prevent the debtor from receiving payment.

As a result, netizens were disappointed with their actions regarding the situation.

From the start, they lost 12-0, but because they didn’t want to give up that 10%, they went all out with lawsuits, and even after losing the lawsuits, they said they would pay the media, but they still haven’t paid it.

I can’t figure out why they would throw away such a blessing and leave when sticking with a big agency might’ve gotten them an executive position later.

Wow…they still haven’t paid? Now I feel embarrassed because of them.

Meanwhile, Chanyeol recently garnered attention for his comment towards CBX.