The contract dispute of former EXO members Kris and Luhan have come to a close after they have filed a lawsuit against SM Entertainment. The agency and the two artists have decided that their contract will be followed, so they will stay under SM Entertainment until the year 2022.
The court has recommended that both artists and SM Entertainment should reconcile. The final agreement that they have come up with is that Kris and Luhan's exclusive contracts will remain enforced, All KPop reported.
In an official press release made public on July 21 by the law firm representing SM Entertainment, they said that they cannot disclose the other details of the agreement they had with Kris and Luhan, but it is in accordance with the court's ruling.
The press release went on to say: "Kris and Luhan, excluding areas in Korea and Japan, will entrust jurisdiction rights entirely to SM Entertainment, and Kris and Luhan will share a part of their revenues with SM Entertainment." The two will not be going back as members of the band member, EXO, Soompi reported.
The settlement came more than a month since the two parties had an arbitration meeting. The June meeting was the second for the lawsuit and it took place at the Seoul Central District Court and came nine months after the first session was held. In the first two arbitration meetings, there was no settlement reached. In the first arbitration meeting, the court has recommended that the contracts of Luhan and Kris be changed to seven years rather than the original 10 years.
Kris and Luhan stayed with EXO until 2014. Kris filed a lawsuit on May 2014, while Luhan followed in October of the same year.
Both artists have argued that their individual rights have been violated due to the length of the contracts. They also claimed that they received unjust treatment and unequal distribution of profits while with EXO.
The two are yet to release their own statements regarding the settlement.
