{"id":31686,"date":"2022-09-15T18:06:12","date_gmt":"2022-09-16T01:06:12","guid":{"rendered":"https:\/\/www.musicmundial.com\/en\/?p=31686"},"modified":"2022-09-15T18:06:12","modified_gmt":"2022-09-16T01:06:12","slug":"sm-will-fire-lee-soo-man","status":"publish","type":"post","link":"https:\/\/www.musicmundial.com\/en\/sm-will-fire-lee-soo-man\/","title":{"rendered":"SM Entertainment wants to fire producer Lee Soo Man"},"content":{"rendered":"

SM Entertainment<\/strong> is one of the most important companies right now.\u00a0SM Entertainment wants to finish their producer contract with Lee Soo Man. <\/strong><\/p>\n

Lets remember, was the one behind the production of , such as\u00a0H.O.T.<\/strong>, BoA<\/strong>, and Girls’ Generation<\/strong>.<\/p>\n

\"Lee\"
\n just announced,<\/p>\n

\n

\u201cWe are considering whether to terminate the production contract with Producer Lee Soo Man\u2019s personal company \u2018Like Planning<\/strong>\u2019 early.<\/em>\u201d The agency continued, \u201cMusic executive\u00a0Lee Soo Man has expressed to SM\u00a0that\u00a0he wants to terminate the contract early by the end of this year.\u00a0We plan to discuss in depth\u00a0with key stakeholders the impact of an early termination of the production contract, how it will affect\u00a0our business and to summarize our position on the future direction and announce it at a later date.<\/em>\u201d<\/p><\/blockquote>\n <\/figure>\n \n

Lee Soo Man<\/strong> founded SM Entertainment in 1989 and was a member of the SM’s board of directors until 2010, when he stepped down but maintained a role in management and production<\/strong>.\u00a0‘Like Planning’ is the personal company of executive producer Lee Soo Man and the largest shareholder of SM Entertainment.<\/p>\n

\"\"<\/p>\n

SM has outsourced the production to Like Planning and paid tens of billions of\u00a0KRW (millions of dollars) in royalties to Like Planning every\u00a0year.<\/strong> Align Partners Asset Management, which owns a 1.1% stake in SM, pointed out that SM has paid 142.7 billion KRW (102 million USD)\u00a0in royalties to Like Planning since its listing on the stock market\u00a0until the third quarter of last year.<\/strong><\/p>\n

There is also an interpretation that this announcement is intended to alleviate the opposition and pressure of shareholders, such as Align Partners Asset Management<\/strong>, against SM’s excessive royalties paid to executive producer Lee Soo Man’s private company.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

SM Entertainment is one of the most important companies right now.\u00a0SM Entertainment wants to finish their producer contract with Lee Soo Man. Lets remember, was the one behind the production of , such as\u00a0H.O.T., BoA, and Girls’ Generation. just announced, \u201cWe are considering whether to terminate the production contract with Producer Lee Soo Man\u2019s personal […]<\/p>\n","protected":false},"author":2981,"featured_media":31691,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,7,950,24],"tags":[],"class_list":{"0":"post-31686","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-kpop","8":"category-news","9":"category-showbiz","10":"category-videos"},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.musicmundial.com\/en\/wp-json\/wp\/v2\/posts\/31686","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.musicmundial.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.musicmundial.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.musicmundial.com\/en\/wp-json\/wp\/v2\/users\/2981"}],"replies":[{"embeddable":true,"href":"https:\/\/www.musicmundial.com\/en\/wp-json\/wp\/v2\/comments?post=31686"}],"version-history":[{"count":0,"href":"https:\/\/www.musicmundial.com\/en\/wp-json\/wp\/v2\/posts\/31686\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.musicmundial.com\/en\/wp-json\/wp\/v2\/media\/31691"}],"wp:attachment":[{"href":"https:\/\/www.musicmundial.com\/en\/wp-json\/wp\/v2\/media?parent=31686"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.musicmundial.com\/en\/wp-json\/wp\/v2\/categories?post=31686"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.musicmundial.com\/en\/wp-json\/wp\/v2\/tags?post=31686"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}