SMTOWN staff boycotts HYBE’s takeover of their company 

The newly formed an employees council to show opposition to the ongoing management change. 

On February 17th, the SM staff union including 208 heads of departments issued an announcement expressing their anger over the current situation and support for the current management. 

sm entertainment

The sent email was titled: “Stop hostile M&A to HYBE and SM with Illegal, tax evader Lee Soo Man” to all of the staff at SM Entertainment. 

The email contained the following contents: 

“1. We preserve the cultural diversity of KPOP and the unique identity of SM. SM’s culture declares that it cannot be subordinated to HYBE’s capital.

2. We actively support and cheer for the reflection of co-CEOs Lee Sung Soo and Tak Young Jun and the SM 3.0 multi-producing plan. In addition, we demand stronger protection from harm to our fans and artists.

3. We oppose HYBE’s hostile M&A and expedient attempts to enter the board of directors. We will resist HYBE who tries to take over SM in an unusual way.

‘Lee Soo-man abandoned SM and Pink Blood and ran away, but

we will remain in Seoul Forest to protect SM and Pink Blood.’

February 17, 2023

SM Entertainment rank-and-file staff council”

Source: twitter

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