EXO’s Chen, Baekhyun, and Xiumin Face Asset Seizure as Dispute With SM Escalates

The long-running contract dispute between EXO’s Chen, Baekhyun, and Xiumin (collectively known as ChenBaekXi) and SM Entertainment has entered a new phase, with the agency reportedly moving to secure assets belonging to the three artists.

According to reports on February 11, SM Entertainment filed provisional seizure claims on February 9 and 10 against several properties and financial assets linked to the members. The reported measures include claims on lease deposit receivables as well as apartments located in Guri, Gyeonggi Province, and Hannam-dong, Yongsan District in Seoul.

The total amount sought by SM is reportedly 2.6 billion KRW (approximately $2 million USD), divided among the three members.

A Dispute That Began in 2023

The conflict dates back to June 2023, when Chen, Baekhyun, and Xiumin notified SM Entertainment of their intent to terminate their exclusive contracts. At the time, both sides exchanged public statements regarding contract transparency and settlement details, drawing significant industry attention. The trio later joined INB100, a label under One Hundred, founded by MC Mong and Cha Ga-won.

Following negotiations, both parties appeared to reach a compromise: ChenBaekXi would continue certain activities while agreeing to pay 10% of their individual revenue generated under INB100 to SM Entertainment.

However, tensions resurfaced when the members claimed that SM failed to honor parts of the agreement. Specifically, they argued that a promised 5.5% distribution fee rate for album and music distribution through INB100 was not upheld. ChenBaekXi also filed a fraud complaint against an SM executive, though the case was later dismissed due to insufficient evidence.

Legal Battle Likely to Continue

Industry observers view SM’s recent provisional seizure filings as a significant escalation, signaling that the dispute may move into a prolonged legal battle.

As of now, neither side has announced a final resolution timeline. With financial claims and contractual interpretations at the center of the disagreement, the outcome could have broader implications for artist-agency contract structures within the K-pop industry.

Further developments are expected as the case proceeds through legal channels.