Chen, Baekhyun, Xiumin, EXO, SM, assets seized?! How much?

We summarize the controversy surrounding the seizure of 2.6 billion won from SM and Chen Baek-shi.

We've summarized the 10% personal sales agreement, the reasons for the seizure of the deposit bond, the issues that will be re-conflicted in the 2023 agreement, and even the future outlook.

 

 

1. What happened to the 2.6 billion won seizure of SM Entertainment's Baekhyun?

 

The conflict between SM Entertainment and EXO members Chen, Baekhyun, and Xiumin (ChenBaekXi) has resurfaced.

As it became known that SM had seized assets worth approximately 2.6 billion won from the three members,

The conflict escalated into an all-out war.

 

The currently known structure is as follows:

 

Chen: About 300 million won in deposit refund claims Baekhyun: Apartment in Guri, Gyeonggi Province, worth approximately 1.6 billion won Xiumin: Apartment in Yongsan, Seoul, worth approximately 700 million won

 

gun 2.6 billion won It's scale.

 

Attachment is not a seizure of property, but rather a freezing measure to secure claims before a judgment on the main case is rendered.

However, the actual experience is quite stressful.

 

 

2. Why is a security deposit lien a powerful card?

 

The most notable aspect of this case is the seizure of the deposit bond.

 

If the right to claim the return of the rental deposit is tied up, the deposit may not be paid immediately at the end of the contract.

Because the payment route may be adjusted according to court decisions.

 

In other words, it is not a deprivation of ownership, but it is said that the disposal and liquidation of property are restricted and the turnover of funds upon termination of the contract may also be affected.

So, the industry is saying that “methodology is stronger than numbers.”

 

 

3. Why did the 2023 agreement's "10% personal sales" become a bombshell again?

 

The crux of the conflict is the 2023 agreement.

 

At that time, both sides sutured as follows.

 

Group activities are carried out by SM Personal activities are centered around INB100 Instead, 10% of individual sales are paid to SM.

 

The problem is the interpretation of this 10% promise.

 

SM claims that it has taken measures to preserve its claims, claiming that payment obligations have not been fulfilled.
On the other hand, Chenbaixi has continued to raise issues regarding the provision of settlement data and implementation of the agreement.

 

 

With the same agreement,

 

✔️ SM: The agreement is valid and must be performed.

✔️Chen Baek-shi: There are problems with the presupposed trust and settlement structure.

 

This structure has become a point of conflict again.

 

 

4. Three legal issues ahead

 

There are three key issues at stake in this dispute:

Validity of the 10% personal sales agreement Scope of obligation to provide settlement data Effect of notice of termination of exclusive contract

 

These three issues go beyond simple monetary issues and can impact the entire structure of the contract.

Especially as the K-pop industry grows, issues of individual activity rights and transparency in settlement are becoming more sensitive.

 

 

 

FAQ

Q1. If there is a seizure, will the house be transferred immediately?

A1. No. This is not a transfer of ownership, but a restriction on disposal.

However, it may become difficult to utilize assets, such as for trading or collateralization.

 

Q2. If a security deposit claim is seized, will I not be able to receive the money when the lease expires?

A2. It is difficult to say for sure that you will not receive it right away.

However, there is a possibility of delay as the payment route may change depending on the court procedure.

 

Q3. Is this problem solved by just paying 10% of personal sales?

A3. It is difficult to view this as a simple deposit issue.

The validity of the agreement, transparency of settlement, and the effect of contract termination must be judged together.

 

 

 

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