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SM Entertainment will respond actively to TVXQ trio’s demand for compensation of 3 billion KRW

SM Entertainment’s official stand on Dong Bang Shin Ki trio’s lawsuit to demand for compensation is that they will be responding to the lawsuit actively.

News surfaced on 28th June reporting that the trio had demanded for a total of 3 billion KRW in compensation from the agency. And SM’s response to that was, “We will be responding actively to the lawsuit for compensation through our legal representatives.”

News reports have also surfaced quoting that the lawsuit is of no problem for SM Entertainment since it has at least 50 billion KRW in cash reserves.

Go under the cut for more information.

S: MyDaily

Daewoo Securities Co. Ltd. stated on the 29th that although SM’s stocks (041510) (12,950 Won, -3.00%) are plummeting due to the TVXQ lawsuit issue, the dip is nothing to greatly worry about.

Kim Chang Won of Daewoo Securities Co. Ltd. Research Center stated, “The current situation is a good opportunity to buy,” and “SM has at least 50 billion Won in cash reserves, so they will be able to easily cover a 3 billion Won compensation lawsuit.”

“Their second quarter sales will exceed the ballpark figure,” and “In the third quarter, SHINee and BoA’s domestic activities, Girls Generation’s Japanese activities and Super Junior M’s Chinese activities will reap great rewards.”

  • source: [edaily+Yuaerubi]
  • translation credits: jeeelim5@tohosomnia.net
  • shared by: tohosomnia.net
  • Do not remove/add on any credits

Earlier news report that surfaced about the trio demanding for compensation:

Dong Bang Shin Ki trio Micky YooChun, Xiah JunSu and Hero JaeJoong has demand for SM Entertainment to pay up a total of 3 billion KRW which means 1 billion KRW for each member.

The 3 revealed through their lawsuit against SM Entertainment on 28th June at the Seoul Central Court District, “Even though SM Entertainment made it a point that we have to sign up to 13 years with though in order for our overseas promotions, we are unable to accommodate with it. Even if we are to void the contract, there should be compensation to the members. This amount is considered much of an injustice already.”

It was added, “We also see the profit that SM Entertainment received with Dong Bang Shin Ki’s activities after our exclusive contract was made invalid as injustice. Each member should be compensated 10 billion KRW. Until now, Dong Bang Shin Ki has earned about 60 billion KRW. If we divide out by 5 members and take out the costs, each of us should ultimately received 1 billion KRW.”

Currently, the trio is promotion as unique group and previously on the 5th they held ‘JUNSU JEJUNG YUCHUN THANKSGIVING LIVE IN DOME’ in Osaka.

S: TVDaily

42 Responses

  1. Source Article: The Meaning of JaeChunSu`s
    Gesture at Lotte Ad
    http://www.everydaydbsk.wordpress.com

  2. You`re welcome:)

  3. alee, I don`t think the other two have issues with SM.
    I believe they are hoping for a reunion.

    NotRelated, it`s like in the Korean saying “Don`t sell half your eye” = Don`t listen to others = Believe in yourself.

  4. their pose (close 1 eyes) remind me of illuminati/freemanson… ><

  5. Oh off topic,
    This is my first time seeing their lotte free shop poster. I think our BB boys look a lot better than them lol.

  6. SM can give the money because they’re fucking rich.

    Now lets please end this dispute -_-

  7. The name in the title is wrong too..it’s TVXQ, not TXVQ.

  8. SME shit, sm make DBSK broke. . .

  9. […] the rest here: SM Entertainment will respond actively to TXVQ trio's demand for … This entry is filed under Book, Fashion, Film, Nas, News. You can follow any responses to this […]

  10. […] here:  SM Entertainment will respond actively to TXVQ trio's demand for … This entry is filed under Book, Fashion, Film, Nas, News. You can follow any responses to this […]

  11. although this trio is probably coming off as greedy and as if they’re just seeking for money, and even if they were doing that, they deserve evey single penny and probably more.
    I’m not a dbsk fan but fair is fair, and after they have made SM what they are today, they deserve to be greedy if they want to be. Too bad the other 2 aren’t getting anything, maybe now they wished they had left.

  12. what does “actively respond” even mean haha

  13. Mhmmm TVXQ is huuge it would be stupid not to listen to their demands cos the rewards will be greater. As for using from other SME artists kinda sad I wonder how many other are getting paid nothing.

  14. What the fuck is with the “TVXQ trio’s ‘DEMAND’ (you make me laugh) for compensation”?
    You wanna make someone look bad, do it in an appropriate manner — Not defaming and having YOUR side of the story.
    Let it be neutral and open fairly for people’s opinions and perspectives on whether is SM or DBSK the unreasonable son of a bitch. Period.

    • …It’s true, though. They’re DEMANDING a certain amount. This was known ages ago. Not biased writing, simply a fact. It doesn’t necessarily make them look bad [yet].

  15. What the fuck is with the “TVXQ trio’s ‘DEMAND for compensation”?
    You wanna make someone look bad, do it in an appropriate manner — Not defaming and having YOUR side of the story.
    Let it be neutral and open fairly for people’s opinions and perspectives on whether is SM or DBSK is the unreasonable son of a bitch. Period.

  16. Change the title please, it’s misleading! Especially for people who can’t read and just believe the titles without dissecting the information and reading the comments.

  17. Doesn’t 30억 = 3 billion? not 30 billion.

  18. Jen,

    you`ve got it right.

    Seems noone here blames the three, right? Lots of people have… for splitting up DBSK…

    let me just say, that`s not how I feel…

    • I agree with u also I dont get the ones who still are calling JSC greedy or selfish despit the court taking JSC side in lawsuit and not SME

  19. it’s one billion not 30 they want to make JYJ gredy for money! seriously!!!!!!!!!

  20. Lol All I read was..

    SM:”We’ll give them their 3 billion, it’s okay.. we have another trillion in our bank accounts we can spend freely AND we’ll be making more profits through other SM singers through upcoming events.”

    ~____~ If only I can say that. someday one day

  21. I may a little slow on this but…
    Can I know why is the trio suing SM such a large amount?
    Is it solely because of the 13 year contract and they have not got their ‘ultimate 10 billion KRW’ (after divided by 5 the total amount of 60 billion KRW which they have earned throughout their active years)?

  22. Interesting update there…THANK YOU 121

  23. this comment is wriiten by Kur4tinc
    ‘ The representative from Daewoo has to say this statement since lots of buyer asking whether the SME’s stocks are still profitable or not.

    Buyers need this kind of statement since the stocks already decreased since the boys fill in the lawsuit not mentioned that Hangeng followed their step. If SME lost & have to pay lots of money to the boys, the stocks will be worthless. The buyers will face financial loss.

    Till this June, DBSK still under Avex, that is mean that SME still have profits from Avex, but for the next half year, all the income will purely come from Suju, SNSD, f(x), Shinee & others. In this time we will see the real effect SME lost DBSK, since the boys had contributed more than half of SME’s income. That is why SME push SNSD to go to Japan, hope they could cover at least half of it.

    If I do have lots of money better buy Avex’s stocks instead of SME’s

    It’s just my opinion, sorry for the bad grammar & mispelling.

  24. That`s right, it`s 3 billion won. I really hope there`s going to be a settlement soon…

    DBSK fighting!

  25. i think the compensation is about the profits SM earned even after the court granted the exclusive contract suspension injunction to the trio last october. Meaning since sm is still making money from dbsk esp with merchandise, (dbsk merchandise is being sold by sm everywhere, their compilation albums in japan, best album, the singles still selling in japan like break out), its obvious big part of the money is going to sm still.

  26. sookyeong u made mistake its not 30 billion won but 3 billion won

  27. No money, no TXVQ HONEY!
    Is that BITTER enough for you, SM?
    Ke Ke Ke~~~

  28. come on sookyeong, it’s NOT 30 billion won.
    they ‘just’ ask ONE billion won for each member. so its gonna be 3 billion won NOT 30.
    eventhough for me SM have to pay TVXQ 30 billion won or even more. TVXQ work their ass off n then sme take almost all of the money?? geez
    that greedy company really pissed me of😐

    • I agree with u I believe JSC must ask for more 3 billion won is nothing compared to the money that they made is last year lol from Im reading it seems to me that SME know that they will endup losing the lawsuit

    • ‘On May 13th, SM officially announced that for the first quarter of this year, they made 22.7 billion won (+$18.1 million USD) in sales and 10.4 billion won (~$8.29 million USD)in business profits. That means that from the same time last year, their sales went up 58% and their business profits increased a whopping 471%.

      Last year, SM set a record with 9.3 billion won in business profits. (~$7.4 million USD). However, the profits from the first quarter of this year alone made is MUCH higher than what they made all of last year.

      A stock analyst made a positive assessment on this. Stock researcher Kim Changwon said, “SM’s first quarter record is just for that quarter of the year, not the whole year. It’s a perfect and surprising earning.

      He also continued, “During the second quarter of the year, Super Junior and f(x) were active. During the 3rd quarter, SNSD will have their Japan activities and Boa will be coming out with her 10th year anniversary album. So their result will improve and be even greater.” ‘

      htt__p://magazine.hankyung.com/business/apps/news?popup=0&nid=01&c1=1001&nkey=2010060100757000401&mode=sub_view

      • Holy sh1t.. they are making a lot more profits through other SM artists :0

      • dude, SM is doing more money than ever.

      • so the company revenue for the quarter recorded an all time high of 22.7 billion won O.o

        with a record 10.4 billion won in operating profits.

        which means it’s a huge increase of 471% from same period last year.

        (At the beginning of 2009 SME stock price was about 1500 won, now it is about 7900 won so in terms of business achievement SM is doing awfully great)

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