Talent powerhouse SM Entertainment has vowed to fight back and win against a court ruling last week which granted three members of boy band TVXQ partial victory in their request to nullify their exclusive contract with the agency.
In late July, TVXQ members Hero Jaejoong, Micky Yoochun and Xiah Junsu had applied for provisional disposition of their 13-year contract with SM to which a court ruled that the agency will not interfere in their individual activities.
"The recent decision has not taken the essential reasons and fundamental of the issue in to consideration," SM started by saying in a press release on Monday. "We are sure that the court's decision will change once we provide enough evidence which are looked into under the proper legal proceedings."
SM also declared that they will ask the three for compensation amounting to over a total 2.5 million dollars for the losses and damage incurred upon the group and the agency with the ongoing legal action, should the court rule in favor of SM in its final verdict.
They went on to explain that the terms of the contracts had been adjusted every year in favor of the members and are now asking to be freed from them since they are starting to see success.
"This ruling will cause confusion in the entire entertainment industry and make it impossible to create a system where (agencies) will be able to upbring their stars with long-term prospects," SM added.
The statement came just hours before a news conference set for later in the day where they plan to talk about their position in more detail.
TVXQ, who debuted in 2004 with album "Hug", is one of Korea's most successful K-pop groups. They are stars throughout Asia, reportedly having the largest fanbase in the world, and have enjoyed great success in the Japanese music industry in particular.
Shared by: OneTVXQ.com
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