The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
The Korea Times
amn_close.png
amn_bl.png
National
  • Politics
  • Foreign Affairs
  • Multicultural Community
  • Defense
  • Environment & Animals
  • Law & Crime
  • Society
  • Health & Science
amn_bl.png
Business
  • Tech
  • Bio
  • Companies
  • World Expo 2030
amn_bl.png
Finance
  • Companies
  • Economy
  • Markets
  • Cryptocurrency
amn_bl.png
Opinion
  • Editorial
  • Columns
  • Thoughts of the Times
  • Cartoon
  • Today in History
  • Blogs
  • Tribune Service
  • Blondie & Garfield
  • Letter to President
  • Letter to the Editor
amn_bl.png
Lifestyle
  • Travel & Food
  • Trends
  • People & Events
  • Books
  • Around Town
  • Fortune Telling
amn_bl.png
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
amn_bl.png
Sports
amn_bl.png
World
  • SCMP
  • Asia
amn_bl.png
Video
  • Korean Storytellers
  • POPKORN
  • Culture
  • People
  • News
amn_bl.png
Photos
  • Photo News
  • Darkroom
amn_NK.png amn_DR.png amn_LK.png amn_LE.png
  • bt_fb_on_2022.svgbt_fb_over_2022.svg
  • bt_twitter_on_2022.svgbt_twitter_over_2022.svg
  • bt_youtube_on_2022.svgbt_youtube_over_2022.svg
  • bt_instagram_on_2022.svgbt_instagram_over_2022.svg
  • Login
  • Register
  • Login
  • Register
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
  • 1

    Netflix apologizes for filming 'Single's Inferno 3' in marine sanctuary

  • 3

    In-N-Out Burger pop-up store attracts record crowd

  • 5

    Calls grow for female flight attendants to ditch skirts for pants

  • 7

    Transgender cyclist looks to spark debate in historic appearance

  • 9

    Suspect in grisly Busan murder sent to prosecutors for further probe

  • 11

    Man gets five-year jail term for K-pop concert ticket fraud

  • 13

    Small business owners urge stricter rules on migrant workers switching jobs

  • 15

    From hardcore action to heart-throbbing romance, series to hit in June

  • 17

    Stray Kids drops 3rd LP with 'unique, enjoyable' lead track

  • 19

    S. Korea succeeds in L-SAM missile interception test for 3rd time

  • 2

    BTS' RM named honorary ambassador of war-remains excavation agency

  • 4

    'BLACKPINK the Game' showcases group's unique charm

  • 6

    EXO's Baekhyun, Xiumin and Chen in dispute with SM over contract issue

  • 8

    Hamburger franchises having trouble in M&A market

  • 10

    Pyongyang seeks to portray rocket as science effort by admitting failure: experts

  • 12

    Hallyu inspires Thailand to mull ways to export its culture

  • 14

    Police send girlfriend murder suspect to prosecution

  • 16

    Nexon case reignites controversy over high level of inheritance tax

  • 18

    Pandas at Everland become tourist magnet

  • 20

    JYP to expand partnership with US music label

Close scrollclosebutton

Close for 24 hours

Open
  • The Korea Times
  • search
  • all menu
  • Login
  • Subscribe
  • Photos
  • Video
  • World
  • Sports
  • Opinion
  • Entertainment & Art
  • Lifestyle
  • Finance
  • Business
  • National
  • North Korea
Entertainment & Arts
  • K-pop
  • Films
  • Shows & Dramas
  • Music
  • Theater & Others
Sat, June 3, 2023 | 20:06
K-pop
SM in internal feud over founder's exit from producing
Posted : 2023-02-07 08:48
Updated : 2023-02-08 15:44
Dong Sun-hwa
Print PreviewPrint Preview
Font Size UpFont Size Up
Font Size DownFont Size Down
  • facebook
  • twitter
  • kakaolink
  • whatsapp
  • reddit
  • mailto
  • link
Lee Soo-man, founder of SM Entertainment / Courtesy of SM Entertainment
Lee Soo-man, founder of SM Entertainment / Courtesy of SM Entertainment

SM ends contract with founder Lee Soo-man

By Dong Sun-hwa

Employees at K-pop powerhouse SM Entertainment are divided over the exit of its founder and chief producer, Lee Soo-man ― the mastermind behind A-list K-pop stars including TVXQ, Super Junior, Girls' Generation, EXO and NCT.

After SM's co-CEOs Lee Sung-soo and Tak Young-jun announced Friday that the company has terminated its contract with the 70-year-old founder as its chief producer, some employees are showing support for the decision, while others aren't. The former claim that it is time for SM to begin a new chapter and move forward, but the latter insist the label still needs Lee's producing skills and experience.

On Friday, SM shared a YouTube video introducing its "SM 3.0" vision. As part of this vision, it will set up five production centers and independent music labels in pursuit of diversification, ditching its previous system in which Lee led the entire process of music production. It also plans to launch three rookie K-pop groups and one virtual soloist this year.

"Lee's contract with SM as chief producer has ended, but we truly appreciate his support as a shareholder," Lee Sung-soo said in the clip.



Some employees who are in favor of the decision said the company has been too dependent on the founder.

"Today, we lag behind our rivals in terms of market value and business profits. If we do not make a major reform, we will not be able to catch up with them," an SM worker wrote on Blind, an anonymous social media platform where only verified employees can upload posts and leave comments.

Established in 1995, SM used to be the No. 1 player in the K-pop scene. But lately, other record labels such as HYBE ― home to K-pop behemoth BTS ― have seen exponential growth in their sizes and sales.

Another wrote, "We should not dwell on our past glories. We should be more vigilant."

Supporters of Lee, however, claimed SM should not sever ties with him, adding the contract termination was also against his will.

Actor-singer Kim Min-jong, an SM executive who has been represented by the company for nearly two decades, sent an email to all SM employees after the announcement, slamming the company for "making a decision that will not benefit anyone."

"The CEOs did not have any conversation with Lee (about his resignation), and made the announcement without discussing the issue with others," his email read. "This will neither benefit SM family nor our shareholders. SM artists need Lee's producing skills. Although some say he is too old and that K-pop trends have changed over time, we can still make up for deficiencies if we join hands."


Emailsunhwadong@koreatimes.co.kr Article ListMore articles by this reporter
 
wooribank
Top 10 Stories
1Roland Garros 2023 Roland Garros 2023
2Airlines fiercely compete to acquire additional aircraft Airlines fiercely compete to acquire additional aircraft
3Seoul imposes sanctions on North Korean hacking group for role in space launch Seoul imposes sanctions on North Korean hacking group for role in space launch
4KAERI distances itself from Oxford professor's claim on Fukushima water KAERI distances itself from Oxford professor's claim on Fukushima water
5More banks offer daily interest payments on deposits More banks offer daily interest payments on deposits
6LG Chem joins Korean firms strengthening ties with Japan LG Chem joins Korean firms strengthening ties with Japan
7POSCO, GM expand joint EV battery materials investment in North America POSCO, GM expand joint EV battery materials investment in North America
8HMM tasked with preventing sale of Hyundai LNG to foreign firm HMM tasked with preventing sale of Hyundai LNG to foreign firm
9Indo-Pacific region highlighted as important for Korean economy's future Indo-Pacific region highlighted as important for Korean economy's future
10Hyundai Elevator launches AI, IoT-powered maintenance service Hyundai Elevator launches AI, IoT-powered maintenance service
Top 5 Entertainment News
1'HyeMiLeeYeChaePa' producer Lee Tae-kyung hopeful of second season 'HyeMiLeeYeChaePa' producer Lee Tae-kyung hopeful of second season
2How artist Michael Rakowitz resurrects lost past of Iraq through food packaging How artist Michael Rakowitz resurrects lost past of Iraq through food packaging
3[INTERVIEW] 'One Day Off' star Lee Na-young, director on creating subtle, feel-good series INTERVIEW'One Day Off' star Lee Na-young, director on creating subtle, feel-good series
4From hardcore action to heart-throbbing romance, series to hit in June From hardcore action to heart-throbbing romance, series to hit in June
5[INTERVIEW] Lee Jun-hyuk unrecognizable in 'The Roundup: No Way Out' INTERVIEWLee Jun-hyuk unrecognizable in 'The Roundup: No Way Out'
DARKROOM
  • Turkey-Syria earthquake

    Turkey-Syria earthquake

  • Nepal plane crash

    Nepal plane crash

  • Brazil capital uprising

    Brazil capital uprising

  • Happy New Year 2023

    Happy New Year 2023

  • World Cup 2022 Final - Argentina vs France

    World Cup 2022 Final - Argentina vs France

CEO & Publisher : Oh Young-jin
Digital News Email : webmaster@koreatimes.co.kr
Tel : 02-724-2114
Online newspaper registration No : 서울,아52844
Date of registration : 2020.02.05
Masthead : The Korea Times
Copyright © koreatimes.co.kr. All rights reserved.
  • About Us
  • Introduction
  • History
  • Contact Us
  • Products & Services
  • Subscribe
  • E-paper
  • RSS Service
  • Content Sales
  • Site Map
  • Policy
  • Code of Ethics
  • Ombudsman
  • Privacy Statement
  • Terms of Service
  • Copyright Policy
  • Family Site
  • Hankook Ilbo
  • Dongwha Group